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9. [1/3 points) DETAILS 1/100 Submissions Used PREVIOUS ANSWERS MY NOTES ASK YOUR TEACHER A young executive deposits $200 at the end of each month
9. [1/3 points) DETAILS 1/100 Submissions Used PREVIOUS ANSWERS MY NOTES ASK YOUR TEACHER A young executive deposits $200 at the end of each month for 7 years into an account that earns 7.2% compounded monthly. How much is in the account after the 7 years? (Round your answer to the nearest cent) $ 21761.28 The executive then changes the deposits in order to have a total of $400,000 after 25 total years. What should be the revised monthly payment in order to meet the $400,000 goal? (Round your answer to the nearest cent). $578.06 x How much interest is earned during the 25 years? $2444650 x ASK YOUR TEACHER MY NOTES 10. [0/2 points) DETAILS PREVIOUS ANSWERS 4/100 Submissions Used (a) Joe Blow deposits $2,000 at the end of each quarter for 35 years into an account paying 6% compounded quarterly. How much is in Joe's account at the end of the 35 years? (Round your answer to the nearest cont.) $ (b) How much interest does Joe earns on his deposits? s
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