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A) You are going to retire in 4 years and 7 months. You would like to have $3750 at the end of each month during
A) You are going to retire in 4 years and 7 months. You would like to have $3750 at the end of each month during your first year of retirement. How much do you need to invest now to meet your retirement goal if you can earn 6.24% monthly?
B) Youve saved up $4541 to go towards buying a new car in 4 years' time. How much do you have to deposit at the end of each month at a bank that is paying 4.84% compounded monthly to be able to buy the car at the end of 4 years for $6225?
PLEASE ANSWER BOTH OF THESE PARTS. I WOULD REALLY APPRECIATE IT :)
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