When will I be a millionaire?
Barry monthly sends 280 euros to the bank, which he deposits bear interest of 2.1% p. A. Calculate how many months Barry must save to save 1000000 euros. Inflation, interest rate changes, or bank failures are ignored.
Final Answer:
Tips for related online calculators
Our percentage calculator will help you quickly and easily solve a variety of common percentage-related problems.
You need to know the following knowledge to solve this word math problem:
algebraarithmeticbasic operations and conceptsnumbersUnits of physical quantitiesthemes, topicsGrade of the word problem
Related math problems and questions:
- Inflation 42111
A client deposits 100,000 euros in XYZ bank for a term deposit with an interest rate of 4% pa (per annum). After six months, you went to get the money. How much did he have in his account with the described half-yearly interest? PS When you deposit money - Possibility 65535
The bank offers a term account with the possibility of early withdrawal with an interest rate of 1.85 percent pa. Milan put 2,500 euros on it on January 2. If he withdraws the money after eight months, how many euros will he get? - Deposit withdrawal
Paul deposited 1,750 euros in the bank at an interest rate of 2.60 percent. He wants to withdraw the money after 9 months. A) How much would he earn in interest? (withdrawal is free of charge.) B) How much will he receive if the interest is taxed at 19%? - Interest 6047
Mr. Demikát took out a loan worth 5,000 euros from the bank with an interest rate of 12 percent. How many months will it repay if the monthly payment is 80 euros? - Obtained 31531
On 1 March, Mr. Závora obtained a loan from the bank for CZK 70,000 for four months. The interest rate is 9.5%. How much will he repay to the bank? - Annual interest If, after a year, at an annual interest rate of 3.8%, Mr. Slovak had 2,076 euros in his account, how many euros did he deposit in the bank?
- Installment 38011
We borrowed CZK 150,000 at a monthly interest rate of 2%. Interest is added at the end of each month, and we immediately pay an installment of CZK 30,000. How much will we owe in five months?
