The first savings account Hector is opening is for emergencies only.  He has $1500 to invest now.  The savings account at Bestern Bank offers 7% interest, compounded monthly.  How much money can Hector expect to have in his account after 15 years?

You decide to quit using your credit card and want to pay off the balance of $9,500 in 4 years. Your interest rate is 14.75% compounded monthly. What will your monthly payments be? How much interest do you pay?

Bob wants to deposit $5000 into a bank account at the beginning of the next month and $200 per month into that same account at the end of that month and each subsequent month for the next 5 years. If the bank pays interest at the rate of 3% per year compounded monthly, how much will Bod have in his account at the end of 5 years? Assume that he makes no withdrawals during the 5 year period.

5. You take $100 to your local savings bank to invest for five years. You are given the choice of two investments by the banker Notifications Time Left 00:00:28 ? Guide Me 1. You can Invest in a regular savings account that pays you 14.00% interest each year with interest compounded annually. That is each year the interest you can gets deposited in your bank account and earns interest until the end of the five years. it. You can invest in a special account that pays you 20.00% interest each year, the catch is that the interest does not compound, Rattier each year the interest payrrient is put into a special account which collects no further interest and cannot be reinvested anywhere until the end of the five years Which option should you select and why? a, Select Option i: It earns $44.63 more than Optianill b. Both Options earn you the same amount of money so you are indifferent between the two c. Select Option it It earns $7.46 more than Option d. Select Option it It earns $30.00…

Vijay

Julieta and Eric are purchasing a home. They wish to save money for 12 years and purchase a house that has a value of $170,000 with cash. If they deposit money into an account paying 7 % interest, compounded monthly, how much do they need to deposit each month in order to make the purchase? Round your answer to the nearest cent, if necessary.

Linda and Rob open an online savings account that has a 1% annual interest rate, compounded monthly. If they deposit $1,200 every month, how much will be in the account after 10 years? Round to the nearest Cent!