-You deposit $250 each month into an account earning 5% interest compounded monthly. a) How much will...

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-You deposit $250 each month into an account earning 5% interest compounded monthly.

a) How much will you have in the account in 20 years?

b) How much total interest will you earn?

-You would like to have $600,000 when you retire in 40 years. How much should you invest each quarter if you can earn a rate of 5.6% compounded quarterly?

a) How much should you deposit each quarter?

b) How much total money will you put into the account?

c) How much total interest will you earn?

Posted Date: May 19, 2024 11:06 AM

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