How much money will have in the account in twenty years

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Calculating Annuity Values

Question 1: If you deposit $4,000 at the end of each of the next 20 years into an account paying 9.7 percent interest, how much money will you have in the account in 20 years? How much will you have if you make deposits for 40 years?

Question 2: You want to have $50,000 in your savings account 12 years from now, and you are prepared to make equal annual deposits into the account at the end of each years. If the account pays 6.2 percent interest, what amount must you deposit each year?

Question 3: Dinero Bank offers you a five years loan for 50,000 at an annual interest of 7.5 percent. What will your annual loan payment be?

Reference no: EM132564513

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