Question
1)You will have a tuition bill of $8,726 due in 8 months. How much would you have to invest today to fully pay for the
1)You will have a tuition bill of $8,726 due in 8 months. How much would you have to invest today to fully pay for the tuition if you can earn 4.87% APR, compounded monthly, on the investment?
2)
If you deposit $69,475 today and $73,715 in 12 months, in an account that earns 4.63% APR, compounded monthly, how much will you have in the account in 16 months?
3) If you deposit $16,965 in month 4 and $11,480 in month 8, in an account that earns 3.95% APR, compounded monthly, how much will have in the account 17 months from now?
4) How much would you have to invest in month 11 and month 15 in an account that earns 4.69% APR, compounded monthly, to have $197,034 in 44 months (i.e., 44 months from today)?
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