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Please help with interest math! please provide steps You decide to contribute to a mutual fund that averages 4.2% return per year. If you contribute
Please help with interest math! please provide steps
You decide to contribute to a mutual fund that averages 4.2% return per year. If you contribute $425 quarterly. Round all answers to the nearest cent as needed. a) How much will be in the account after 20 years? $ b) How much of this money did you deposit? $ C) How much of this money is interest earned? $ How much would you need to deposit in an account each month in order to have $20,000 in the account in 6 years? Assume the account earns 2.1% interest. Round your answer to the nearest cent as needed. SA You deposit $4000 each year into an account earning 4.1% interest. How much will you have in the account in 30 years? Round your answer to the nearest cent as needed. $ You deposit $1000 each year into an account earning 7.3% interest. How much will you have in the account in 30 years? Round your answer to the nearest cent as needed. $ You deposit $200 each month into an account earning 3.2% interest. Round all answers to the nearest cent as needed. a) How much will you have in the account in 20 years? $ b) How much of this money did you deposit? $ c) How much of this money is interest earned? $Step by Step Solution
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