2532
1050*5/100
You didn't specify how long you wanted to pay in and what frequency so I made assumptions. FV (Future Value) = $15,600 1 year = $185/month
your mom would never get that much...
You would have approximately 200 thousand dollars or more.Assuming, the money is compounded every year, the amount at the end of 40 years would be $220,975.12/-
true
6084
1050*5/100
7,398,000
The total interest would be 73606.07 dollars, approx.
1000 today since I am not sure I will be alive in 10 years to collect the 2000.
Yes, because (s)he could invest 1100 today and draw out 100 per month. That would provide the same capital stream but there would be the interest as a bonus.
You will have $11576.25
The answer choices for this question were not provided. You would first have to multiply the interest rate of 6 percent times 4000 which equals 240. Then you would multiply the 240 times 5 which equals 1200. An easier way is to multiply 4000 by 6 percent by 5.
You didn't specify how long you wanted to pay in and what frequency so I made assumptions. FV (Future Value) = $15,600 1 year = $185/month
10 percent.
You would receive a 75%
1 percent of 2,000 is 20 .