How long must you wait until your account

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Reference no: EM131962379

1. You can earn .47 percent per month at your bank. If you deposit $3,000, how long must you wait until your account has grown to $6,000? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Number of months _____

2. If the time value of the money is .10 how much do you have to save per year for 20 years to have $50,000 per year for perpetuity? Assume that the first deposit is immediate and that the first payment will be at the beginning of the 21st year. Using Excel

Reference no: EM131962379

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