Albert is planning on retiring 12 years from today. In that day, he would like to...

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Albert is planning on retiring 12 years from today. In that day, he would like to have 500, 000 SAR in the Bank. a) How much money per month does he need to deposit in his savings account to be able to have those 500,000 SAR, assuming the bank pays 8% interest? (Hint: use the PMT excel function) Answer: b) Assume now that Albert is able to save 5,000 SAR every month. How much money will he have in savings account in 12 years? (Hint: use the FV excel function) Answer: Albert is planning on retiring 12 years from today. In that day, he would like to have 500, 000 SAR in the Bank. a) How much money per month does he need to deposit in his savings account to be able to have those 500,000 SAR, assuming the bank pays 8% interest? (Hint: use the PMT excel function) Answer: b) Assume now that Albert is able to save 5,000 SAR every month. How much money will he have in savings account in 12 years? (Hint: use the FV excel function) Answer:

Answer rating: 100% (QA)

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