Question
1.)You deposit $4000 in an account earning 2% interest compounded monthly. How much will you have in the account in 15 years? 2 You can
1.)You deposit $4000 in an account earning 2% interest compounded monthly. How much will you have in the account in 15 years? 2 You can afford a $250 per month car payment. You've found a 5 year loan at 4% interest. How big of a loan can you afford? 3 You have $300,000 saved for retirement. Your account earns 10% interest. How much will you be able to pull out each month, if you want to be able to take withdrawals for 25 years? 4 Suppose you want to have $400,000 for retirement in 25 years. Your account earns 10% interest. How much would you need to deposit in the account each month? 5 You have $5,000 on a credit card that charges a 15% interest rate. If you want to pay off the credit card in 5 years, how much will you need to pay each month (assuming you don't charge anything new to the card)?_______$ each month
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