Question
If you deposit 300 into a savings account at the end of each quarter for 4 years, how much will you have in the account
If you deposit 300 into a savings account at the end of each quarter for 4 years, how much will you have in the account after 4 years if the account earns 2% annual interest, compounded quarterly?
What is the dollar amount of the difference between the two account balances if you deposit the 300 into the account at the beginning of each quarter instead of at the end of the quarter?
If you have budgeted 350 a most for a payment on new furniture, how much can you spend on furniture today, assuming the terms of the loan are 3 years and 12% annual interest rate, compounded monthly?
How much is paid to interest over the life of the loan?
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