1) Jamal and Tamika want to start savings plans. Jamal opens an account at age 20. He invests $10,000 at 5% interest, compounded yearly. Tamika waits to open a similar account until she is 35. She also invests $10,000 compounded yearly. Neither adds any more to the account over the years. When they each turn 45, the amount in their accounts has grown. Jamal has 33,863.55 in his account. Tamika has 16,288.95. Explain why their account balance is so different.

Alicia has a collision deductible of $500 and a bodily injury liability coverage limit of $50,000. she hits another driver and injures them severely. the case goes to trial and there is a verdict to compensate the injured person for $40,000 how much does she pay?

Sam and diane are completing their federal income taxes for the year and have identified the amounts listed here. how much can they rightfully deduct? • agi: $80,000 • medical and dental expenses: $9,000 • state income taxes: $3,500 • mortgage interest: $9,500 • charitable contributions: $1,000.

After graduation, you plan to work for dynamo corporation for 12 years and then start your own business. you expect to save and deposit $7,500 a year for the first 6 years (t = 1 through t = 6) and $15,000 annually for the following 6 years (t = 7 through t = 12). the first deposit will be made a year from today. in addition, your grandfather just gave you a $32,500 graduation gift which you will deposit immediately (t = 0). if the account earns 9% compounded annually, how much will you have when you start your business 12 years from now?