#1 You invest $15,000 in earning 4.5% interest compounded monthly for a period of 30 years. Over that time how much would you have accumulated?
#2 A bank offers 7.5% interest compounded monthly. What is the annual percentage yield (APY)?
#3 An investment of $20,000 is deposited for 30 years in an account with 6.5% interest and daily compounding.
a) How much money is accumulated after 30 years?
b) How much interest was earned on the account in that time?
Additional Content?
You can add text and files that support your answers.
Add Content