Now that you are going to save 600 €/month, you decided to save those 600€ per month in a bank account that offers a 6% interest rate compounded monthly, till the day you retire (that is to say, in 30 years). Please answer the following questions:

If you do your deposits at the end of every month (so your first deposit will be in one month from today) in a bank account that offers a 6% interest rate compounded monthly, and you continue doing so till the day you retire (that is to say, in 30 years):

a) Draw the timeline (at least the first five periods) with its corresponding numeration of periods and cashflows in their corresponding points

b) How many cashflows will be there?

c) how much money will you have at the end? Show the workout.

Answer rating: 100% (QA)

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