Staci invested $950 five years ago. Her investment paid 7.2 percent interest compounded monthly. Staci's twin sister Shelli invested $900 at the same time. But Shelli's investment earned 8 percent interest compounded quarterly. How much is each investment worth today?

$1,360.20 and $1,337.35

Explanation:

In this question, we have to used the Future value formula that is shown below:

Future value = Present value × (1 + rate)^number of years

For Staci, it would be

Present value = $950

Rate =  7.2% ÷ 12 months = 0.6%

Number of years = 5 year × 12 months = 60

So, the future value

= $950 × (1 + 0.6%)^60

= $950 × 1.431788412

= $1,360.20

For Shelli,  it would be

Present value = $900

Rate =  8% ÷ 4 quarters = 2%

Number of years = 5 year × 4 quarters = 20

So, the future value

= $950 × (1 + 2%)^20

= $950 × 1.485947396

= $1,337.35

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi