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1-Suppose I just opened an account today, and it has a $0 balance. Starting next month I will make equal deposits each month for 30
1-Suppose I just opened an account today, and it has a $0 balance. Starting next month I will make equal deposits each month for 30 years. How much do I need to deposit each month to reach a goal of $1 million if my account is earning 9% APR compounded monthly?
2-
Starting next year you plan to deposit $1000 each year into an account earning 9.25% effective annual return. How many years will it take for your account to grow to $20,000?
please answer both question for full rate
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