Yоu win $6200 frоm yоur fаvorite slot mаchine, аnd you decide to invest the amount at a 2.4% APR for 9 years at Wells Fargo. A) If your winnings are invested in a simple interest account, how much money will be in the account after 9 years? Enter numbers only. Do not enter the "$" symbol or words. $[simpacct] B) Instead of a simple interest account, suppose your winnings are invested at 2.4% APR in a compound interest account with monthly compounding. How much money will be in your account after 9 years? Enter numbers only. Do not enter the "$" symbol or words. Do not leave any answer blank. Fill in the blanks below that correspond to what you would type into the TVM-Solver in your calculator: N = [N] I% = [I] PV = [PV] PMT = [PMT] P/Y = [PY] C/Y = [CY] * Enter the future value (FV) that will be in the account after 9 years. Enter numbers only. Do not enter the "$" symbol or words. NOTE: If you decide to use the textbook formula to compute the future value (instead of the TVM-Solver), round intermediate steps to 4 decimal places. Round the final answer to the nearest cent (or 2 decimal places). The future value of the account after 9 years will be: $[compacct]
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