5 if you place 350 per month in an investment account and, Ask an Expert

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5. If you place $350 per month in an investment account and believe that you will earn 9% on your investments over the next 20 years, how much will you have set aside when you retire in 20 years' time? You should compound the investment monthly

6. You are trying to buy a $125,000 home when interest rates are 4.2% with monthly compounding. You are financing the home over 20 years and have $12,500 set aside for a down payment. What are your expected monthly payments?

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