Lauren Snowden puts $11,000 into an account to save money to buy a car in 11 years. She expects the car of her dreams to cost $39,000 by then. Find the interest rate that is necessary if the interest is computed using the following methods. (a) Compounded quarterly (b) Compounded monthly

To get the best loan rates available, the Riches want to save enough money to place 20% down on a $160,000 home. They plan to make monthly deposits of $125 in an investment account that offers 8.5% annual interest compounded semiannually. Will the Riches have enough for a 20% down payment after five years of saving? How much money will they have saved?