c . What is the value of the savings bond at the end of year seven ? d . What is the value of the savings bond at the end of year eight ? e . What is the value of the savings bond at the end of year nine ? f . What is the value of the savings bond at the end of year ten ? P 3 – 8 a . Use the present value formula , PV = FV * --- b . Use the TVM keys from a calculator . P3-15
Future Value . YOU are a new employee with the metro daily planet . The planet offers three different retirement plans . Plans 1 starts the first day of work and puts $ 1,100 away in your retirement acc at the end of every year for 40 years . Plan 2 starts after 10 year and puts away $ 2,100 every year for year . Plan 3 starts after 20 year and puts away $ 4,100 every year for the last 20 year 0 employment . All tree plans guarantee an annual growth rate of 11 %.
a . Which plan should you choose if you plan to work at the Planet for 40 years ?
b . Which plan should you choose if you plan to work at the Planet for only the next 30 years ?
c . Which plan should you choose if you plan to work at the Planet for only the next 20 years ?