Your best friend is saving $1,800.00 and will earn 0.17 percent per month. Determine the number of months until the account grows to $2,000.00.
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Your best friend is saving $1,800.00 and will earn 0.17 percent per month. Determine the number of months until the account grows to $2,000.00.
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- If you save 400 per month for retirement in an account that earns 8% interest per year, compounded monthly, how much will you have after 36 years?Sharon has an account that starts at $5,800. She add $100 to it each month. It earns 7.4% interest, compounded monthly. The investment will last herfor 41 years. Beyond the $100 you add each month, how much additional monthly payment will she need to add in order for the account to end with $900,000 after 41 years?I now have $12,000 in the bank earning interest of 0.50% per month. I need $22,000 to make a down payment on a house. I can save an additional $100 per month. How long will it take me to accumulate the $22,000?