Question: 1 . You have decided instead paying $ 7 per day for an unhealthy, sugar - loaded drink from your favorite coffee shop every morning

1. You have decided instead paying $7 per day for an unhealthy, sugar-loaded drink from your favorite coffee shop every morning you are instead going to invest $1,500 every six months for the next 30 years. If you can earn 4.8% compounded semiannually, how much will you have in 30 years?
A. $457,589.90
B. $96,302.36
C. $192,604.72
D. $489,377.35
2.25 years ago, your parents began saving $100 per month in an account that they intend to give you five years from today. The account earns 7.0% annual interest compounded monthly. Your parents will continue to save $100 per month in the account for the next five years. How much will be in the account when they give it to you in five years?
A. $142,568.33
B. $121,997.10
C. $95,112,68
D. $81,007.17

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!