If $400 is deposited into the bank today at 10%, compounded semi-annually, what amount will have accumulated by the end of 3 years? a. $536.00 b. $532.40 c. $ 463.20 d. $708.80 

9. How much must I invest today at 12%, compounded monthly, to be able to withdraw $500 each month for 2 ½ years? a. $12,904 b. $4,027.50 c. $11,011.50 d. $11,198 

10. If $300 is deposited into the bank at the end of each year for four years, what amount will have accumulated by the end of the four years? Use a rate of 12%, compounded annually. 

Answer rating: 100% (QA)

To solve this problem we can use the formula for compound interest A P1 rnnt Where A is the accumula... View the full answer