How much would you need to deposit in an account each month in order to have $40,000 in the account in 6 years? Assume the account earns 2% interest. You deposit $500 each month into an account earning 5% interest compounded monthly. a) How much will you have in the account in 25 years? S b) How much total money will you put into the account? 5 c) How much total interest will you earn? 5 You would like to have $1,000,000 when you retire in 35 years. How much should you invest each quarter if you can earn a rate of 4.8% compounded quarterly? a) How much should you deposit each quarter? S b) How much total money will you put into the account? 5 c) How much total interest will you earn? 5 You deposit $2000 each year into an account earning 7% interest compounded annually. How much will you have in the account in 30 years? 5 You deposit $200 each month into an account earning 8% interest compounded monthly. a) How much will you have in the account in 20 years? S b) How much total money will you put into the account? S c) How much total interest will you earn? S You would like to have $1,000,000 when you retire in 25 years. How much should you invest each quarter if you can earn a rate of 6.2% compounded quarterly? a) How much should you deposit each quarter? 5 b) How much total money will you put into the account? 5 c) How much total interest will you earn? S How much should you invest each month in order to have $700,000 if your rate of return is 7.6% compounded monthly and you want to achieve your goal in 40 years? S How much interest will you earn? S How much should you invest each month in order to have $700,000 if you want to achieve your goal in 20 years? 5 If you deposit the amount you need to achieve your goal in 20 years, how much will your savings be worth after 10 years? S How much would you need to deposit in an account each month in order to have $40,000 in the account in 6 years? Assume the account earns 4% interest. How much should you invest each month in order to have $300,000 if your rate of return is 5.5% compounded monthly and you want to achieve your goal in 40 years? How much interest will you earn? 5 How much should you invest each month in order to have $300,000 if you want to achieve your goal in 20 years? S If you deposit the amount you need to achieve your goal in 20 years, how much will your savings be worth after 10 years? 5