What interest rate would allow you to accumulate
Problem: What interest rate would allow you to accumulate 10,000 in 8 years if you saved $60 per month and earned compound interest monthly.
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Can you give me the formula used to solve the following problem? Question: What amount of money today is equivilant to $100 per month compounded quarterly for 10 years at 5%?
What interest rate would allow you to accumulate 10,000 in 8 years if you saved $60 per month and earned compound interest monthly.
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Problem: What is the present value of $50 per year in each of the next three years if the interest rate is 10 percent?
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