Theresa adds $1,500 to her savings account on the first day of each year. Marcus adds $1,500 to his savings account

Alexa plans on saving $3,000 a year and expects to earn an annual rate of 10.25 percent. How much will she have in her account at the end of 45 years?    A.  $1,806,429 B.  $1,838,369 C.  $2,211,407 D.  $2,333,572 E.  $2,508,316

39.

Theresa adds $1,500 to her savings account on the first day of each year. Marcus adds $1,500 to his savings account on the last day of each year. They both earn 6.5 percent annual interest. What is the difference in their savings account balances at the end of 35 years?    A.  $12,093 B.  $12,113 C.  $12,127 D.  $12,211 E.  $12,219     Difference = $198,145.42 - $186,052.04 = $12,093 Note: Difference = $186,052.04 × 0.065 = $12,093

40.	You are borrowing $17,800 to buy a car. The terms of the loan call for monthly payments for 5 years at 8.6 percent interest. What is the amount of each payment?    A.  $287.71 B.  $291.40 C.  $301.12 D.  $342.76 E.  $366.05