Question: PLEASE SHOW FORMULAS possible 1) (5 points) How much must you deposit today if you can cam 4.60% annual rate of interest (with monthly compounding)
possible 1) (5 points) How much must you deposit today if you can cam 4.60% annual rate of interest (with monthly compounding) in order to have $40,000 ten years from now? 2) (4 points) How many years will it take for an investment to be worth $10,470.61 in the future, with a deposit today of $7,500 at a 5.60% annual rate of return with quarterly compounding? 3) (6 points) Suppose you want to save $30,000 as a down payment to purchase a townhome in 4 years. You plan on saving money at the beginning of each month starting today. If you can earn 3.60% APR on your investment over the time frame, how much must you save each month to reach your goal? 4) (5 points) What annual interest rate do you need for an investment to be worth $5,195.03 seven years in the future with semi-annual compounding if you deposit $3,000 today
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