Finance
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1a. A person is going to make deposits in an account as follows:
The 1st deposit will be for $10 and deposits will keep on increasing by $5 each year
for 50 years.
1st deposit will be $10
2nd deposit will be $15
3rd deposit will be $20
and so on. (Remember there are 50 deposits)
If the rate of interest is 10% find the Present Value and the Future value of these
deposits.
1b. What will be the Present Value of the deposits in problem 1, if the deposits are going to continue forever.
2. Deposits of $8 are made in an account every third year. If the rate of interest is 1% per year, what will be the Future Value of these deposits in the year 1001.(Note that deposits are made every third year
1st deposit in year 3
2nd deposit in year 6
3rd deposit in year 9
and so on.
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