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1-You are saving for a new house and you put $10,000 per quarter in an account paying 8 percent compounded quarterly. The first payment is
1-You are saving for a new house and you put $10,000 per quarter in an account paying 8 percent compounded quarterly. The first payment is made today. How much will you have at the end of 5 years?
2-Suppose you borrowed $10,000 from a bank to be repaid in 3 years and the interest applied is 6%compounded monthly. What is the monthly payment for this loan?
3-You want to receive $5000 per month in retirement. If you can earn 0.75 % per month and expect to have this income for 25 years, how much do you need to have in your account today?
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