Question 14 Use the compound interest formula to compute the future value of the investment. Round to the nearest cent. \( \$ 600 \) at \( 3.5 \% \) compounded daily for 6 years (assume 360 days per year)

Phil is shopping for an annuity that guarantees he CANNOT outlive the benefits. Which of these benefit options would he choose?Accelerated lifetime benefitGuaranteed lifetime withdrawal benefitRight of income riderGuaranteed minimum accumulation benefit

The original price of a tablet was \( \$ 550 \). During a sale, Melvin was given a 30\% discount for the tablet. How much did he pay for the tablet?

You deposit \( \$ 1000 \) each year into an account earning \( 7 \% \) interest compounded annually. How much will you have in the account in 35 years?

How much would you need to deposit in an account now in order to have \( \$ 3000 \) in the account in 15 years? Assume the account earns \( 5 \% \) interest compounded monthly.

You deposit \( \$ 500 \) each month into an account earning \( 6 \% \) interest compounded monthly. a) How much will you have in the account in 20 years? b) How much total money will you put into the account? c) How much total interest will you earn? \( \$ \)