1 deposit 1000 at the end of each month for next 10 years, Ask an Expert

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1: Deposit $1,000 at the end of each month for next 10 years, how much money will I have at the end of 10 years in the following scenarios?

A: 6% interest per year compounded monthly.

B: 8%: interest per year compounded monthly.

2: Deposit $1,000 at the end of year 1 and increment the deposit by $100 for the next 4 years, how much money will I have at the end of 5 years in the following scenario?

C: 9% interest per year compounded continuously.

3: What is a real-life application of continuous compounding?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M93073971

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