4. You deposit $450 at the end of every month for four years, at a nominal annual rate of 8.5% compounded monthly. Calculate the amount in your bank account after four years. 5. At the age of 35 John began contributing 10,500 Php every month to a retirement fund. If his money earns interest at a nominal annual rate ofl2%, compounded monthly, how long does he have to make these payments if he wants his retirement fund to be 450,000 Php in the end?

4. You deposit $450 at the end of every month for four years, at a nominal annual rate of 8.5% compounded monthly. Calculate the amount in your bank account after four years. 5. At the age of 35 John began contributing 10,500 Php every month to a retirement fund. If his money earns interest at a nominal annual rate ofl2%, compounded monthly, how long does he have to make these payments if he wants his retirement fund to be 450,000 Php in the end?

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

4. You deposit $450 at the end of every month for four years, at a nominal annual rate of 8.5% compounded
monthly. Calculate the amount in your bank account after four years.
5. At the age of 35 John began contributing 10,500 Php every month to a retirement fund. If his money earns
interest at a nominal annual rate of12%, compounded monthly, how long does he have to make these
payments if he wants his retirement fund to be 450,000 Php in the end?

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