Suppose that today you start a savings account with a deposit of $75, and continue to invest $75 at the beginning of every month for 3 years. If your savings earn 3.00% p.a. and interest is calculated monthly, determine the total in your account at the end of the 3 years. Give your answer to the nearest penny.

You deposit $100 each month into an account earning 4% interest compounded monthly. a) How much will you have in the account in 15 years? b) How much total money will you put into the account? c) How much total interest will you earn?

You have decided to start a savings plan for your retirement. You plan to make an annual deposit of $50,000 each year for the next 6 years. The first deposit to be made one year from today. The bank pays a nominal interest rate of 5% annually. How much your savings account with the bank be if you leave the money in the bank to be withdrawn all in 19 years from today? Round to the nearest $0.01. DO NOT use the $sign. Do not use commas to separate thousands. For example if you obtain $1,433.728 then enter 1433.73; if you obtain $432 then enter 432.00 Your Answer: Answer

If you save $1298 per year for the next 17 years and earn 7.2% interest on your savings, how much will you expect to have at the end of 17 years? Assume deposits are made at the beginning of each year. Give your answer in dollars to the nearest one dollar.

Suppose you want to save $220,000 for retirement. You will do so by putting monthly deposits into an account that gets 5% interest compounded monthly for 30 years. What should your monthly deposits be? Round your answer to the nearest cent and include units. Make sure you show the formula you used and the values you filled in.

Suppose you have decided to put $500 at the beginning of every month in a savings account that credits interest at the annual rate of 5%, but compounds it monthly. Find the amount in this account after 20 years.

You plan to invest an amount of money in a five-year certificate of deposit (CD) at your bank. The stated interest rate is 12%, compounded Quarterly. How much must you invest if you want the balance in the CD account to be $7,500 in five years?

Suppose you want to have $700,000 for retirement in 35 years. Your account earns 9% interest.   a) How much would you need to deposit in the account each month?   b) How much interest will you earn?

Suppose you plan to retire at age 70, and you want to be able to withdraw an amount of $60,000 per year on each birthday from age 70 to age 100 (a total of 31 withdrawals). If the account which contains your savings earns 6.6% per year simple interest, how much money needs to be in the account by the time you reach your 70th birthday?

if your bank pays you 1.5% interest and you deposit $700 ​today, what will be your balance in 5 years? (round to the nearest cent)please show step by step