What annual interest rate would you need to earn if you wanted a $1,000 per month contribution to grow to $75,000 in six years?
Answer to relevant QuestionsWhat annual interest rate would you need to earn if you wanted a $600 per month contribution to grow to $45,000 in six years? Given an 8 percent interest rate, compute the year 7 future value if deposits of $1,000 and $2,000 are made in years 1 and 3, respectively, and a withdrawal of $700 is made in year 4. Create the amortization schedule for a loan of $5,000, paid monthly over two years using an 8 percent APR. What is the present value, when interest rates are 7.5 percent, of a $50 payment made every year forever? What’s the interest rate of a 7-year, annual $4,000 annuity with present value of $20,000?
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