Ali deposits BD 2,500 in a savings account that pays interest at the rate of 5.5% per year, compounded annually. If all of he money is allowed to accumulate, how much money will the student have after 14 years?

Pete Morton is planning to go to graduate school in a program of study that will take three years. Pete wants to have $13,000 available each year for various school and living expenses. If he earns 7 percent on his money, how much must be deposited at the start of his studies to be able to withdraw $13,000 a year for three years?

Joe has $1,500 in credit card debt but pays it in full every month from cash flow. He also pays her mortgage from cash flow ($2,000 principal). For savings, Joe saves $50 per month in an interest-bearing savings account. Annual interest earned and reinvested is $100. How much will his net worth increase in the current year?

Stella deposits $54,000 in a savings account at a bank that offers interest of 5.3% on such accounts. What is the value of the money in her savings account in five years’ time?

Alex will need $9860 per year for four years to support his daughters university tuition (first tuition is paid at the beginning of the 11th year). How much will Alex have to invest at the beginning of each year for the 10 years before his daughter begins her studies if their savings earn compound interest at 6 percent per year?   A)$2,378.49   B)$2,593.46   C)$2,697.47   D)$2,400.74   E)$2,544.78

Oliver currently has $2,200 in a savings account paying 4.0% interest. He has a goal of taking a year-long around the world vacation. He has decided to deposit $150 from each paycheck (24 a year) for the next two years.  Then he will leave on his vacation and withdraw an amount at the beginning of each month while he is on his cruise. How much will he be able to withdraw each month of his voyage?

A couple plans to save for their child’s college education. What principal must be deposited by the parents when their child is born in order to have$80,000 when the child reaches the age of 18? Assume the money earns 8% interest, compounded quarterly.

If Jackson deposits 100 dollars at the beginning of each month in a savings account earning interest at the rate of 8%/year compounded monthly, how much will he have on deposit in his savings account at the end of 6 yr, assuming that he makes no withdraws during that period?

Peter makes a deposit at the end of every three months into a savings account that earns interest at 4.6% compounded annually. He saves for 12 years, and then converts his savings into an annuity that pays him $400 at the beginning of each month for 15.5 years at the same interest rate. What size of the deposit Peter makes while he is saving

In December 2018, Eric puts $1600 into a bank account. He then deposits an additional $1000 each year thereafter. The account earns 4% interest, compounded annually. When Eric has a total of at least $50,000 in his account at the beginning of a year he will buy a house. In what year will this happen?