Suppose you want to have $800,000 for retirement in 30 years. Your account earns 9% interest. How much would you need to deposit in the account each month? $

Q: Suppose you want to have $400,000 for retirement in 25 years. Your account earns 9% interest. How…

A:

Q: How much would you need to deposit in an account each month in order to have $10,000 in the account…

A:

Q: Suppose you want to have $400,000 for retirement in 25 years. Your account earns 10% interest. How…

A: It is given that, the future value is FV = $400,000, n=25×12=300, and r=10%=0.112  since each month…

Q: You know you will have $1,000,000 in your account when you retire. You want to be able to take…

A:

Q: you deposit $5000 in an account earning 3% interest compounded monthly. how much will you have in…

A: We have given,

Q: You have $500,000 saved for retirement. Your account earns 5% interest. How much will you be able to…

A:

Q: You have $3,500 on a credit card that charges a 13% interest rate. If you want to pay off the credit…

A: Credit amount Rate of interest Time period  year

Q: You have $300,000 saved for retirement. Your account earns 8% interest. How much will you be able to…

A: It is given that,      r= annual interest rate=8%=0.08      k=monthly compounding=12      N=number…

Q: You deposit $2000 in an account earning 2% interest compounded monthly. How much will you have in…

A: given, principal (P)=$2000           interest  rate (R)=2%= 2/100 =0.02     (for compounded monthly…

Q: How much would you need to deposit in an account each month in order to have $10,000 in the account…

A: Let the monthly payment be P . It is provided that future value, A=10000 . The rate of interest, r…

Q: 5000

A:

Q: Suppose you want to have $400,000 for retirement in 35 years. Your account earns 5% interest. how…

A:

Q: Suppose you want to have $300,000 for retirement in 20 years. Your account earns 10% interest. How…

A: The objective of this question is to find out how much money needs to be deposited each month in an…

Q: How much would you need to deposit in an account each month in order to have $20,000 in the account…

A: We know that Simple interest = PTR/100 Here Time is 7 years and Rate is 6%  Amount is 20000$. Amount…