You have received 500,000 as an unexpected heritage. Banks are aware of that, and they want to attract you as new customer/investor. You have to explain some financial concepts to your couple and take also some decisions about what to do with that money. Kindly prepare your response and calculate the required data according to the following data given by the banks:

• How much should you invest every year in a financial product that offers a 6%, during the next ten years, in order to finally have an amount of 500,000 more? Please make sure you clearly indicate all the steps
• If you invest 12,000 /year, during the next 10 years, in a bank account that offers a 6% compounded yearly, how much money youll after those 10 years?
• And if you invest 1,000 /month, during the next 10 years, in a bank account that offers a 6% compounded monthly, how much money youll after those 10 years?