Question
How much do you need to put in the bank at the end of every month to have $95,689 in the account 16 years from
How much do you need to put in the bank at the end of every month to have $95,689 in the account 16 years from now if the APR is 9% compounded monthly?
How much must you deposit quarterly if your investment is compounded quarterly with an APR of 12% to have $75,689.38 in the account 16 years from now?
What is the effective interest rate for the MONTHLY and QUARTERLY compounding investment? Draw the Cash Flow diagram for each solution Determine the APR for each solution Determine the periodic annual interest rate for each solution Determine the number of compounding periods per year, m, for each solution Determine the number of years of cash flow, for each solution Determine the total number of compounding periods, n, for each solution Draw the Cash Flow diagram for each solution
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