Question
1. You deposit $5000 each year into an account earning 6% interest compounded annually. How much will you have in the account in 35 years?
1. You deposit $5000 each year into an account earning 6% interest compounded annually. How much will you have in the account in 35 years?
$___
2. You deposit $300 each month into an account earning 4% interest compounded monthly. a) How much will you have in the account in 30 years? $__ b) How much total money will you put into the account? $___ c) How much total interest will you earn? $__
3. Natasha has $350,000 saved for retirement in an account earning 4.05% interest, compounded weekly. How much will she be able to withdraw each week if she wants to take withdrawals for 30 years? Round your answer to the nearest dollar. $___
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