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How much will you have in the account in 25 years

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Reference no: EM132409517

1. You deposit $1000 each year into an account earning 3% interest compounded annually. How much will you have in the account in 30 years?

2. How much would you need to deposit in an account each month in order to have $50,000 in the account in 6 years? Assume the account earns 6% interest.

3. How much would you need to deposit in an account each month in order to have $10,000 in the account in 10 years? Assume the account earns 2% interest.

4. You deposit $350 each month into an account earning 5% interest compounded monthly.

a) How much will you have in the account in 25 years?

b) How much total money will you put into the account?

c) How much total interest will you earn?

5.You would like to have $600,000 when you retire in 25 years. How much should you invest each quarter if you can earn a rate of 7.7% compounded quarterly?

a) How much should you deposit each quarter?

b) How much total money will you put into the account?

c) How much total interest will you earn?

Reference no: EM132409517

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