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1. You decide that once you graduate you will save at least $200 per month until you retire (48 years from when you start working). If your investments earn 2% APR, compounded monthly, how much will you have in your account in 48 years?

2. Shannon receives $100,000 as a gift, which ls,deposited in a bank account earning 6% compounded semiannually. If, starting 6 months after the deposit, Shannon withdraws $5000 and continues to withdraw $5000 at the end of every six months, how long will the money last?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92676413

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