When using the

A.

adjusted balance method, interest is charged on the average daily balance during the billing period

B.

average daily balance method, interest is charged on the balance at the end of the new billing period

C.

previous balance method, interest is charged on the average daily balance during the billing period

D.

average daily balance method, interest is charged on the average daily balance during the billing period

2.2.Rhoda, age 25, would like to start saving for retirement. She will be able to save $400 per month beginning immediately. She will retire once she has saved $1 million. Her investment portfolio will earn a rate of return of 8% compounded monthly during the entire time that she is saving. Approximately how many years will it take her to reach her savings goal?

.3If you want to have

$10000 comma

for a down payment on a new car in three years' time, assuming an interest rate of 4.5 percent compounded annually, how much money do you need to deposit as a lump sum today?