Question: How much will $600 per year deposited at 14% be worth in 6 years? 9. How much would you have to save each year

How much will $600 per year deposited at 14% be worth in 6 years? 9. How much would you have to save each year to have $50,000 in 7 years if the interest rate is expected to be 8%? 10. What interest rate will make $6,500 per year accumulate to $141,793 in 11 years?
Step by Step Solution
★★★★★
3.48 Rating (148 Votes )
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
8 To calculate the future value of 600 per year deposited at 14 for 6 years we can use the formula f... View full answer
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
