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Question 5 1 pts How much would you have to deposit today in a bank account that pays 4% compounded annually to fund 5 yearly
Question 5 1 pts How much would you have to deposit today in a bank account that pays 4% compounded annually to fund 5 yearly payments of $2,825 with the first payment starting 6 years from now? Question 6 1 pts You spent $2,113 on Christmas gifts and put the purchases on your credit card. Your credit card has a 16.39% APR compounded monthly. If you want to pay off your credit card balance in 35 months, the first payment next month, how big are the monthly payments? Calculate your answer to two decimal places (e.g. 55.93)
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