Your grandparents deposit $1,000 each year on your birthday, starting the day you are born, in an account that pays 6% interest compounded annually. How much will you have in the account on your 30th birthday, just after your grandparents make their deposit.
4 answers
since its just after they deposit 1,000 then you multiply 29,000 x .06 = 1740. then add that to 30000 because they just deposited the 1,000. then you get $31,740
Suppose $500 is invested monthly at 4% compounded monthly, for
10 years, then $600 is invested monthly at 6% compounded monthly, for
10 years.
10 years, then $600 is invested monthly at 6% compounded monthly, for
10 years.
Find the future value of the ordinary annuity with payout of $20,000
at 4.5% interest compounded annually for 12 years.
at 4.5% interest compounded annually for 12 years.
Suppose $500 is invested monthly at 4% compounded monthly, for
10 years, then $600 is invested monthly at 6% compounded monthly, for
10 years.
10 years, then $600 is invested monthly at 6% compounded monthly, for
10 years.
0 answers