If each of them originally deposited $500 in their accounts, which of them gets the most money when they cash in their accounts? (10 marks) 7. Grace deposited $10,000 into an account three years ago. The first year she earned 12 percent interest, the second year she earned 8 percent interest, and the third year she earned 4 percent interest. How much money does she have in her account today? (5 marks) 8. If Professor Mamuns contract pays $100,000 every year for the next 6 years, what is the future value of this contract at 5% discount rate? What is the present value of the contract?
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