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## Future value. Grand Opening Bank is offering a​ one-time investment opportunity for its new customers. A customer opening a new checking account can buy a special savings bond for ​\$800 ​today, which the bank will compound at 6.5​% for the next ten years. The savings bond must be held for at least five​ years, but can then be cashed in at the end of any year starting with year five. What is the value of the bond at each​ cash-in date up through year​ ten? ​ (Use an Excel spreadsheet to solve this​ problem.) What is the value of the savings bond at the end of year​ five?   ​\$nothing   ​(Round to the nearest​ cent.) What is the value of the savings bond at the end of year​ six?   ​\$nothing   ​(Round to the nearest​ cent.) What is the value of the savings bond at the end of year​ seven?   ​\$nothing   ​(Round to the nearest​ cent.) What is the value of the savings bond at the end of year​ eight?   ​\$nothing   ​(Round to the nearest​ cent.) What is the value of the savings bond at the end of year​ nine?   ​\$nothing   ​(Round to the nearest​ cent.) What is the value of the savings bond at the end of year​ ten?   ​\$nothing ​ (Round to the nearest​ cent.)

Future

value.

Grand Opening Bank is offering a​ one-time investment opportunity for its new customers. A customer opening a new checking account can buy a special savings bond for

​\$800

​today, which the bank will compound at

6.5​%

for the next ten years. The savings bond must be held for at least five​ years, but can then be cashed in at the end of any year starting with year five. What is the value of the bond at each​ cash-in date up through year​ ten? ​ (Use an Excel spreadsheet to solve this​ problem.)

What is the value of the savings bond at the end of year​ five?

​\$nothing

​(Round to the nearest​ cent.)

What is the value of the savings bond at the end of year​ six?

​\$nothing

​(Round to the nearest​ cent.)

What is the value of the savings bond at the end of year​ seven?

​\$nothing

​(Round to the nearest​ cent.)

What is the value of the savings bond at the end of year​ eight?

​\$nothing

​(Round to the nearest​ cent.)

What is the value of the savings bond at the end of year​ nine?

​\$nothing

​(Round to the nearest​ cent.)

What is the value of the savings bond at the end of year​ ten?

​\$nothing

​ (Round to the nearest​ cent.)

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