Deposit into bank account monthly

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Reference no: EM131986786

1. You are able to deposit $564 monthly into a bank account that is paying 11% annually. How much will you be able to accumulate after 27 years?

2. How much should you deposit into a bank account monthly in order to buy a property that you expect to cost $343100 in 25 years if the account pays 14% annual interest?

3. How many years will it take to accumulate $406200 if you make a single deposit of $13000 into an account that is paying 3% compounded monthly?

4. How many years will it take to accumulate $48350 if you are able to deposit $2040 semiannually into a bank account that is paying 12% annually?

Reference no: EM131986786

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