Vincent has set a financial goal to purchase a home in five years. He wants a two-bedroom house with a small backyard in the north side of the city. He has $5,000 currently in his savings account. If he doesn’t deposit or withdraw any money, what type of savings account or savings bond should he choose? Keep in mind that he wants to have the most money in his account at the end of five years. 1. Using the scenario above, what type of savings account or savings bond should Vincent choose?

2. Which savings option is best for Vincent? Use the PACED decision-making method and show your work.

3. Conduct internet research, make phone calls to banks, or visit financial institutions to find the best account for Vincent. Provide the name of the financial institution and the account name. Describe how this option best benefits Vincent.

PLEASE HELP I WILL GIVE POINTS

answer; i believe both technician (a) and (b) are correct; /// good luck

the investment was $14,174.196

explanation:

a lump sum means that the father of the example made one deposit and leave it be.

we need to know the value of a capital that generated at 4.05% per year during 28 years the sum of $48,613.24

now clearing the formula to solve for capital we got:

and we reach the answer investment = $14,174.20

it's actually a very difficult task, due to not many people can make 2 million dollars in 2 years. besides that, to the not-so-realistic ideas, you can create a business. it could be practically anything, but make it into a business that isn't that known yet, you get me? also, lets not forget about stock market. that's where all the good stuff happens. use investments at the beginning and begin to raise up your business or whatever you're going to do. as this is a very non-realistic idea, it's still worth the shot!