Emily Dao, 27, just received a promotion at work that increased her annual salar

Question

Emily Dao, 27, just received a promotion at work that increased her annual salary to $37,000. She is eligible to participate in her employers

Explanation / Answer

1>Future Value=A(1+r^n), where A=Amount invested,r=interest rate , n=number of years FV=10000*(1.10^40) 452592.6 2>FV=7000=A*(1.10^3) or A=7000/(1.10^3) 5259.20 3>FV of 50000 in 3 years@7%=50000*(1.07^3) 61252.15 Money with drawn 25000 Balance money invested=61252.15-25000 36252.15 Value of money after 30years@7%=36252.15*(1.07^30) 275960.6 4>If 100 comounded for 2 years@10%=100*(1.10^2) 121 The PV of 121 received at Y2=121/(1.10^2) 100

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