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  3. emergency 1. if $185 is deposited at the begi

emergency 1. If $185 is deposited at the beginning of...

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Accounting

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1. If $185 is deposited at the beginning of each month into an account that 5 points pays 3.54% compounded semi-annually, how long will it take to accumulate $12,000?* Your answer 5 points 2. If $215 is the payment at the beginning of each month into a loan with 3.54% compounded quarterly, how long will it take to pay off a loan of $30,000? Your answer 5 points 3. If you wanted to earn $650 every month in interest from a savings account, how much would you need to place in the account at the end of each month if the interest rate is 7.32% compounded semi-annually? How would it affect the answer if you wanted the payments to start today? 4. What amount should you invest now if you want to receive payments of $1,650 at the beginning of each month for eight years with the receipt of the first payment two years from now? Assume that money earns 4.23% compounded quarterly

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