1) You deposit $500 each month into an account earning 3% interest compounded monthly. a)...
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Finance
1) You deposit $500 each month into an account earning 3% interest compounded monthly. a) How much will you have in the account in 25 years?
b) How much total money will you put into the account?
c) How much total interest will you earn?
2) Suppose you invest $190 a month for 6 years into an account earning 7% compounded monthly. After 6 years, you leave the money, without making additional deposits, in the account for another 21 years. How much will you have in the end?
3) You deposit $5000 each year into an account earning 4% interest compounded annually. How much will you have in the account in 25 years?
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