An account is opened with an initial deposit of \( \$ 2,400 \) and earns \( 3.9 \% \) interest compounded monthly. What will the account be worth in 21 years? (round to 2 decimal places) Your Answer:

What lump sum must be invested at \( 8 \% \), compounded monthly, for the investment to grow to \( \$ 55,000 \) in 13 years? The lump sum \( \$ \square \) invested at 88 empounded monthly, grows to \( \$ 55,000 \) in \( 13 y e a r s \). (Do not round until the final answer. Then round to the nearest cent as needed.)

12. Savings Growth Comparison (Compound Interest) Scenario A client, Ms. Gina Villamor, wants to invest P100,000 for 10 years. She has two options: - Bank A: Offers \( 4 \% \) annual compound interest, compounded quarterly. - Bank B: Offers 4.2\% annual compound interest, compounded semi-annually. Instructions 1. Calculate the future value of both investments. 2. Prepare a table showing the balance at the end of each year for both banks. 3. Write a letter to Ms. Villamor recommending the better investment option and explaining your calculations.

\( 1 \leftarrow \) If \( \$ 11,000 \) is invested at \( 8 \% \) interest compounded quarterly, find the interest earned in 13 years. The interest earned in 13 years is \( \$ \square \). (Do not round until the final answer. Then round to two decimal places as needed.)

To help with her child's college fund, Charmaine needs to invest. Assuming an interest rate of \( 2.25 \% \) compounded annually, how much would she have to invest to have \( \$ 97,200 \) after 14 years? Do not round any intermediate computations, and round your final answer to the nearest dollar. If necessary, refer to the list of financial formulas.

Illik \( 16 \% \) golirla bir il müddating b mabloğ artaraq 232 manat olar? \( \begin{array}{lll}\text { A) } 160 & \text { B) } 200 & \text { C) } 280\end{array} \)