Evan Hubbard estimates he needs $100,000 to travel around the world. He plans to deposit $800 every month starting one month from today to meet this goal. The interest rate is 7 percent compounded monthly. How many months will it take for Hubbard to achieve his goal? 95 months. 225 months. 250 months.

1. Ali will perform the pilgrimage in 10 years. Estimated ONH for the next 10 years is IDR 50,000,000. If the interest rate is 12%/year. Define: a. How many installments of Hajj must Ali pay annually? b. If Ali wants to pay cash now how much will he have to pay?

Walter predicts that after he graduates, his student loan debt will total R24 500. It has an interest rate of 6,5%. How much must he pay each month if he hopes to pay off this debt in full within five years ?

You decide to make monthly payments into a retirement fund earning 4.75% compounded monthly. Note: Payments are made at the end of each period.

Robert wants to have $2,300 at the end of every three months for 8 years. The bank pays 8% interest, compounded quarterly. Robert calculates that the present value of the ordinary annuity is $53,977.16. What would be the present value if payments were to be received at the beginning of every period rather than the end?

suppose Andy invests $1000 at the end of every quarter for the next 11 years in an account that earns 7.3% compounded quarterly. how much money will Andy have in his account after the 11 years?

Pueblo starts his account with the amount of  $8,000. he add $100  each month. the account  earns 7.1% interest, compounded monthly. The investment will last  him for about 41 years. Pubelo thinks that beyond the $100 that he add each month, how much additional monthly payment will he need to add in order for the account to end with  $770,000 after 41 years.

At the end of 5 years from now, your friend wants to have $225, 000 saved for a down payment on a house. He expects to earn 5%-compounded monthly-on his investments over the next 5 years. How much would your friend have to put in his investment account each month to reach his goal?

Sofia plans to save for next two years. She plans to put away $1000 every 6 months starting 6 months from now. What will be the value of her savings after two years if her savings accounts earns at a rate of 8% compounded semi- annually?