For the first question, it sounds like you just need to add 6% every month for two years.
If you can let us know when you make progress on the first question, the other questions should be a little easier.
How much will $800 deposited into a savings account at the end of each month be worth after 2 years at 6% interest compounded monthly? (2.5pts)
How much will $3,500 deposited at the beginning of each 3-month period be worth after 7 years at 12% interest compounded quarterly?(2.5pts)
What amount must be deposited now to withdraw $200 at the beginning of each month for 3 years if interest is 12% compounded monthly?(2.5pts)
How much must be deposited now to withdraw $4,000 at the end of each year for 20 years if interest is 7% compounded annually?(2.5pts)
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Thank you (:
1 answer