1. Suppose you want to have $700,000 for retirement in 20 years. Your account earns 5% interest. a) How much would you need to deposit in the account each month? Round your answer to the nearest cent. b) How much interest will you earn? Round your answer to the nearest cent.

2. You would like to have $650,000 when you retire in 40 years. How much should you invest each quarter if you can earn a rate of 6.5% compounded quarterly? a) How much should you deposit each quarter? Round your answer to the nearest cent. b) How much total money will you put into the account? Round your answer to the nearest cent. c) How much total interest will you earn? Round your answer to the nearest cent.

3. You deposit $200 each week for 15 years into an account earning 3% interest compounded weekly. a) How much total money will you put into the account? (not including interest) b) How much will you have in the account in 15 years? c) How much total interest will you earn?

4. You deposit $400 each month for 25 years into an account earning 3% interest compounded monthly. a) How much total money will you put into the account? b) How much will you have in the account in 25 years? Round your answer to the nearest cent. c) How much total interest will you earn? Round your answer to the nearest cent.

5. You deposit $300 each month for 20 years into an account earning 3% interest compounded monthly. Round to the nearest cent as needed. a) How much total money will you put into the account?

b)How much will you have in the account in 20 years?

c) How much total interest will you earn?