A man makes $10 deposits each quarter into a savings account earning 8% interest compounded quarterly. He continues these deposits for 12 years. How much will the account be worth after 12 years? A credit card bill shows a balance due of $750 with a minimum payment of $15 and a monthly interest rate of 1.62%. What is the EAR? Find the future value of an annuity with monthly deposits of $250, made over a period of eight years, with 6% interest compounded monthly. How much would be have to invest each month in an annuity earning 5% monthly to earn $30,000 at the end of 30 years? Which of these savings rates is most favorable/