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hi there i am a little confused on how to answer these questions, any help would be great thanks! You can afford to invest $150
hi there i am a little confused on how to answer these questions, any help would be great thanks!
- You can afford to invest $150 per month in an annuity that earns 4% per year, compounded monthly. How long will it take before your investment is worth $6000 ?
- You invested your summer earnings into an annuity from which you can draw expenses while you are at university. If you need to withdraw $1200each month for 9months of university, how much do you need to invest in an account, earning 6% per year, compounded semi-annually, in order to cover your expenses?
- If $25000is invested into an account paying 4.5%per year, compounded quarterly, how much money can be withdrawn from the account every two months for the next 6 years?
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