NEEDED TO SOLVE PROBLEM FOR FUTURE VALUE OF $1, PRESENT VALUE OF $1, ETC... http

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NEEDED TO SOLVE PROBLEM FOR FUTURE VALUE OF $1, PRESENT VALUE OF $1, ETC...

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I need the required questions 1, 2, and 3 answered

On January 1, 2013, you deposited $8,000 in a savings account. The account will earn 8 percent annual compound interest, which will be added to the fund balance at the end of each year. Required: 1. What will be the balance in the savings account at the end of 10 years? (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor(s) rom the tables povided. Round your final answer to 2 decimal places.) Balance In The Savings Account 2. What is the total interest for the 10 years? (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.) Round your answers to 2 decimal places) Total Interest

Explanation / Answer

1) Balance in Savings account = $17271.40

2) Total interest for 10 years = $17271.40 - $8000 = $9271.40

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