In order to save for her high school graduation, Marie decided to save ₽200 at the end of each month. If the bank pays 0.250% compounded monthly, how much will be her money by the end of 6 years? A. ₽12,507.02 C. ₽14,507.02 B. ₽13,507.02 D. ₽15,507.02
In order to save for her high school graduation, Marie decided to save ₽200 at the end of each month. If the bank pays 0.250% compounded monthly, how much will be her money by the end of 6 years? A. ₽12,507.02 C. ₽14,507.02 B. ₽13,507.02 D. ₽15,507.02
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 14PROB
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Question
In order to save for her high school graduation, Marie decided to save ₽200 at the end of each month. If the bank pays 0.250% compounded monthly, how much will be her money by the end of 6 years?
A. ₽12,507.02 C. ₽14,507.02
B. ₽13,507.02 D. ₽15,507.02
_____ 2. How much should be invested in a fund each year paying 2% compounded annually to accumulate ₽100,000 for 5 years?
A. ₽19,215.84 C. ₽21,215.84
B. ₽20,215.84 D. ₽22,215.84
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