Question
(6) If you invest $500/month for 10 years at 3% compounded quarterly, how much will you have? (7) You want to withdraw $500/month for 1
(6) If you invest $500/month for 10 years at 3% compounded quarterly, how much will you have?
(7) You want to withdraw $500/month for 1 years but DEFER it for 5 months. If interest is 5% compounded monthly, how much do you need to deposit today to achieve this?
(8) If you accumulated $15,000 in 3 years by making quarterly deposits at the beginning of each quarter at 6% compounded quarterly, what was the size of the payments?
(9) How long will it take to pay off a loan of $50,000 at 10% compounded semi-annually with $1000 monthly payments?
(10) How long will it take for end of quarter deposits of $800 to accumulate to $20,000 in an account that earns 3% compounded monthly?
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