Question: need help with 8&9 8. How long does it take to save $ 500,000 if you place $ 500 per month in an account paying

need help with 8&9

8. How long does it take to save $ 500,000 if you place $ 500 per month in an account paying 9% compounded monthly? 9. A student requires $500 for rent each month for the next 11 months. A money market fund will pay interest at 3% compounded monthly. How much money should she put in her account in the bank in order to withdraw $500 every month for the next 11 months. The rent for the first month was waived by the rental agency. This is a standard twelve-month lease

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