How much will she have in her account in five years

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Q1. Ernie quit drinking Coffee at Tim Hortons and saves $60 per month previously spent on coffee. He invests the money at 7.5% compounded monthly. How much will he have in 20 years?

Q2. Marika is saving $50 per month. How much will she have in her account in five years if her account is earning 3.5% compounded monthly?

Q3. What amount would you have to invest now at 10% compounded semi-annually in order to make withdrawals of $3500 every half year for 8 years?

Q4. Jadine has 200,000 available to purchase an annuity. What monthly payment can she expect if the funds earn 5.4% compounded monthly, and the payments run for 20 years?

Q5. What amount will an investment be worth in 25 years, if quarterly payments of $2000 are made and the interest rate is 10% compounded quarterly for the first 15 years, and 5% compounded quarterly for the final 10 years?

Reference no: EM132954098

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