Betty wants to save $500,000 in four years. She wants to make monthly deposits into an account which pays 5%monthly. How much should she deposit at the end of each month?
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Betty wants to save $500,000 in four years. She wants to make monthly deposits into an account which pays 5%monthly. How much should she deposit at the end of each month?
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- Mary wants to have $14000 for a trip to Mexico in five years. How much does she need to deposit at the end each month into an account earning 3.6% compounded monthly in order to have the money she needs?Laura wants to accumulate $150,000 in her bank account by depositing $1000 at the beginning of each month. If interest on the account is 5% compounded quarterly, for how long does Laura have to deposit the money?Jane needs $30,000 to buy a new car in four years. How much should she deposit at the endof each week into an account that earns 5% interest componded weekly ? Round your answer to the nearest dollar
- Maria wants to have ₱750,000.00 at the end of 4 years for her graduation expenses. She plans to deposit a certain amount at the end of each month to achieve this. Her bank pays 15% compounded monthly.What is the monthly rate? What is the total number of deposits?Sarah wants to have $20,000 in nine years. If she puts the money in an account which pays 4% compounded monthly, how much does she need to invest?Nicole wants to save 3500 dollars in the next 2 years to go on a backpacking trip. Interest on her account is 3.6% compunded monthly. How much does she need to deposit at the end of each month?
- Samantha wants to open a clothing store using her own money. She estimates that she will need about $80,000. How much should she deposit quarterly into an account with an APR of 2.4% in order to accrue enough money in ten years? Round your answer to the nearest dollar.Carol wants to have $500,000 when she retired in 25 years. Her credit union has an ordinary annuity that is paying 4% compounded monthly. How much does she need to put in each month in order to reach her goal?Gwen decides to make regular deposits every month into an account that earns 8% annual interest, compounded monthly. She hopes to have $50000 at the end of 4 years when she gets married. Determine the amount of the regular payment that she will need to make.
- Katy has decided she wants to put money aside for a $8000 downpayment on a house. She figures she will be ready to buy in 10 years. How much does she need to deposit today into an account that earns 6.75% interest compounded monthly for her to reach her goal?Almirah wants to have P50,000 at the end of 4 years for her graduation expenses and blow-out party. She plans to deposit a certain amount, at the end of each month to achieve this goal. If her deposit pays 8% compounded monthly, what should be her monthly deposit?Sara wants to make a deposit now into an account that earns 3% annually so that she will be able to withdraw an amount of $125 at the end of each of the next 5 years. How much should she deposit today?