Mary would like to have a down payment for a home in 8 years. She opens a term deposit account that will provide her with 5.6% interest compounded monthly and invests $12,000. How much will she have in 8 years? 

 The owner of a small company is planning on updating her operation in 2 years. She deposits $20,000 into an account earning 6.75% compounded yearly. How much will be available to her in 2 years' time when she starts the updates?

Answer rating: 100% (QA)

For Marys Down Payment Given that Mary opens a term deposit account with 56 interest com... View the full answer