Question

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.

Answer #1

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...

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...

You deposit $3000 each year into an account earning 6% interest
compounded annually. How much will you have in the account in 35
years?

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 $4000 each year into an account earning 3% interest
compounded annually. How much will you have in the account in 25
years?

1. Suppose you have 16 tubes of paint. How many
distinct color groupings can you make with your paint?
2. You deposit $3000 each year into an account
earning 6% interest compounded annually. How much will you have in
the account in 20 years?
3. Suppose you want to have $300,000 for
retirement in 25 years. Your account earns 4% interest. How much
would you need to deposit in the account each month?

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 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?

Suppose you want to retire when you reach age 70, at that time
you want to have $1,000,000 accumulated in your retirement account.
Now your 25 years old, starting today, how much you have to save
equally, at the beginning of each year, in order to reach your
retirement goal if the account earns 5% annually compounded
interest?

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?

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