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How much money will heather have after years

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Q1. Matt is saving for a car by making monthly payments of $70 into a mutual fund that earns 7.5%. After 5 years, how much money will Matt have available to buy a car? Assume that compounding and payments happen at the same frequency.

Q2. Heather will invest $200 per month for the next 8 years. At a rate of 7.5% per year, how much money will Heather have after 8 years?

Q3. PMT = $7,000 per year. At a rate of 6.50% per year, how much will accumulate (total) in the account after 13 years?

Q4. Emily will invest $98 per month for the next 8 years. At a rate of 12% per year, how much money will Emily have after 8 years?

Q5. PMT = $4,000 per year. At a rate of 12.50% per year, how much will accumulate (total) in the account after 34 years?

Reference no: EM133112649

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