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Economics

1. What is the amount you can withdraw at the end of 20 years if you make $1,500 monthly deposit at a nominal annual rate of 6% compounded monthly?

2. For retirement planning, you decided to deposit $1,000 per month and increase your deposit by $100 per month. How much will you have at the end of 10 years if the bank pays 3% annually, compounded monthly?

3. You make a monthly deposit of $1,000 into a saving account for the next 10 years. How much can you withdraw immediately after your last deposit if your saving account pays 6% per year compounded quarterly?.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91704943

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