Say you invest $2,000 in an investment account at the end of every month for the next 30 years. Assuming you can earn 12% annually, how much will you have at the end of 30 years?

 

You want to invest $100,000 for five years. Your financial advisor suggests that you should invest in a savings account that pays 3.00% interest compounded annually. However, on the way home from your appointment, an advertisement for a savings account that promises to pay 2.95% interest compounded quarterly. Which one is the better deal for you?

Answer rating: 100% (QA)

To calculate the future value of the investment account we can use the formula for future value of a... View the full answer