At the end of each year a self-employed person deposits $1,500 in a retirement account that earns 7 percent annually. a)How much will be in the account when the individual retires at the age of 65 if the contributions start when the person is 45 years old

Sauer food company has decided to buy a new computer system with an expected life of three years. the cost is $440,000. the company can borrow $440,000 for three years at 14 percent annual interest or for one year at 12 percent annual interest. assume interest is paid in full at the end of each year. a. how much would sauer food company save in interest over the three-year life of the computer system if the one-year loan is utilized and the loan is rolled over (reborrowed) each year at the same 12 percent rate? compare this to the 14 percent three-year loan.