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will leave a good rating :) 1. Suppose you save $100 monthly for 25 years. If you earn 6% per year on your savings, how
will leave a good rating :)
1. Suppose you save $100 monthly for 25 years. If you earn 6% per year on your savings, how much will you have accumulated by the end of 25 years? Assume monthly compounding. FV=$100.00[(1+0.0050)3001]]/0.0050=$69,299.40 2. Suppose you save $2 daily for 25 years. If you earn 12% per year on your savings, how much will you have accumulated by the end of 25 years? Assume daily compounding. 3. Suppose you save $75 quarterly for 25 years. If you earn 6% per year on your savings, how much will you have accumulated by the end of 25 years? Assume quarterly compounding. 4. Suppose you save $500 semi-annually for 25 years. If you earn 12% per year on your savings, how much will you have accumulated by the end of 25 years? Assume semi-annual compounding. 5. Suppose you save $1000 monthly for 25 years. If you earn 6% per year on your savings, how much will you have accumulated by the end of 25 years? Assume monthly compounding Step by Step Solution
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