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4 Your parents just gave you $10,000 to be saved for a down payment on a home. You agree to save an 5 additional $500
4 Your parents just gave you $10,000 to be saved for a down payment on a home. You agree to save an 5 additional $500 each month for the next three years in an investment account that compounds interest 6 monthly. How much will you have saved at the end of three years assuming the annual interest rate is (a) 75% compounded monthly, (b) 7% compounded monthly, or (c) 9% compounded monthly? 8 Formulas should include the = FV function and return a POSITIVE value
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