Question

You deposit $150 each month into an account earning 5% interest compounding monthly. a) How much...

You deposit $150 each month into an account earning 5% interest compounding monthly.

a) How much will you have in the account in 35 years?

b) How much total money will you put in the account?

c) How much total interest will you earn?

Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
You deposit $300 each month into an account earning 5% interest compounded monthly. a) How much...
You deposit $300 each month into an account earning 5% interest compounded monthly. a) How much will you have in the account in 30 years? $ b) How much total money will you put into the account? $ c) How much total interest will you earn? $
You deposit $300 each month into an account earning 2% annual interest compounded monthly A. How...
You deposit $300 each month into an account earning 2% annual interest compounded monthly A. How much money will you have in your account in 35 years? B. How much total money will you put into the account ? C. How much total interest will you earn?
6. You deposit $400 each month into an account earning 5% interest compounded monthly. a) How...
6. You deposit $400 each month into an account earning 5% interest compounded monthly. a) How much will you have in the account in 35 years? b) How much total money will you put into the account? c) How much total interest will you earn? 7. Suppose you want to have $500,000 for retirement in 25 years. Your account earns 7% interest. a) How much would you need to deposit in the account each month? b) How much interest will...
You deposit $500 each month into an account earning 4% interest compounded monthly. How much will...
You deposit $500 each month into an account earning 4% interest compounded monthly. How much will you have in the account in 30 years? How much total money will you put into the account? How much total intrest will you earn?
1) You deposit $500 each month into an account earning 3% interest compounded monthly. a) How...
1) You deposit $500 each month into an account earning 3% interest compounded monthly. a) How much will you have in the account in 25 years? b) How much total money will you put into the account? c) How much total interest will you earn? 2) Suppose you invest $190 a month for 6 years into an account earning 7% compounded monthly. After 6 years, you leave the money, without making additional deposits, in the account for another 21 years....
You deposit $2000 in an account earning 3% interest compounded monthly How much will you have...
You deposit $2000 in an account earning 3% interest compounded monthly How much will you have in the account in 20 years? How much interest will you earn? You deposit $10,000 in an account earning 4% interest compounded monthly. How much will you have in the account in 25 years? How much interest will you earn?
FINANCE 5. 5A. You deposit $5000 in an account earning 8% interest compounded monthly. How much...
FINANCE 5. 5A. You deposit $5000 in an account earning 8% interest compounded monthly. How much will you have in the account in 15 years? 5B. You can afford a $350 per month car payment. You've found a 3 year loan at 2% interest. How big of a loan can you afford? 5C. You have $300,000 saved for retirement. Your account earns 5% interest. How much will you be able to pull out each month, if you want to be...
1/ You deposit $3000 at the beginning of each year into an account earning 5% interest...
1/ You deposit $3000 at the beginning of each year into an account earning 5% interest compounded annually. How much will you have in the account in 20 years? 2/Suppose you want to have $400,000 for retirement. Your account earns 7% interest compounded monthly. If you deposit $200 at the end of each month, how long will it take you to reach your goal? Round to the nearest year.
You deposit $3000 each year into an account earning 6% interest compounded annually. How much will...
You deposit $3000 each year into an account earning 6% interest compounded annually. How much will you have in the account in 35 years?
How much would you have to deposit in a savings account each month at 5% interest/yr....
How much would you have to deposit in a savings account each month at 5% interest/yr. compounded monthly, to have $1,000,000.00 in the account at the end of 40 years? Note: your deposits will be made at the end of each month.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT