Question
Josie wants to be able to celebrate her graduation from CSULA in 3 years. She found an annuity that is paying 3%. Her goal is
Josie wants to be able to celebrate her graduation from CSULA in 3 years. She found an annuity that is paying 3%. Her goal is to have $3,500.00. Assume the interest rate remains the same while the account is open. Round all answers to the nearest penny.
How much should be deposited each week?
How much will be in the account at the end of the 3 years?
How much will she have deposited, in total?
How much interest, in total, will be earned?
If Josie wanted to make a single deposit into a savings account that earns 3% compounded weekly to reach her goal, how much would that deposit be?
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