# Saving 9

An amount if $ 2000 is invested at an interest of 5% per month. if $ 200 is added at the beginning of each successive month but no withdrawals. Give an expression for the value accumulated after n months. After how many months will the amount have accumulated first exceed $ 42000.

**Correct result:****Showing 0 comments:**

#### You need to know the following knowledge to solve this word math problem:

## Next similar math problems:

- Investment 2

Jack invested $5000 in a 5-month term deposit at 4.7% p. A. . At the end of the 5-months, jack reinvested the maturity value from the first deposit into an 11-month term deposit at 7.3% p. A. What is the maturity value at the end of the second term deposi - Investment

1000$ is invested at 10% compound interest. What factor is the capital multiplied by each year? How much will be there after n=12 years? - Slow saving in banks

How long will it take to save € 9,000 by depositing € 200 at the beginning of each year at 2% interest? - Future value

Suppose you invested $1000 per quarter over a 15 years period. If money earns an anual rate of 6.5% compounded quarterly, how much would be available at the end of the time period? How much is the interest earn? - Deposit

If you deposit 719 euros the beginning of each year, how much money we have at 1.3% (compound) interest after 9 years? - Loan

Apply for a $ 59000 loan, the loan repayment period is 8 years, the interest rate 7%. How much should I pay for every month (or every year if paid yearly). Example is for practise geometric progression and/or periodic payment for an annuity. - Retirement annuity

How much will it cost to purchase a two-level retirement annuity that will pay $2000 at the end of every month for the first 10 years, and $3000 per month for the next 15 years? Assume that the payment represent a rate of return to the person receiving th - How much 2

How much money would you need to deposit today at 5% annual interest compounded monthly to have $2000 in the account after 9 years? - Savings

The depositor regularly wants to invest the same amount of money in the financial institution at the beginning of the year and wants to save 10,000 euros at the end of the tenth year. What amount should he deposit if the annual interest rate for the annua - If you 3

If you deposit $4500 at 5% annual interest compound quarterly, how much money will be in the account after 10 years? - Bank

Paul put 10000 in the bank for 6 years. Calculate how much you will have in the bank if he not pick earned interest or change deposit conditions. The annual interest rate is 3.5%, and the tax on interest is 10%. - If you 2

If you deposit $4000 into an account paying 9% annual interest compounded monthly, how long until there is $10000 in the account? - Compound interest

Compound interest: Clara deposited CZK 100,000 in the bank with an annual interest rate of 1.5%. Both money and interest remain deposited in the bank. How many CZK will be in the bank after 3 years? - Semiannually compound interest

If you deposit $5000 into an account paying 8.25% annual interest compounded semiannually, how long until there is $9350 in the account? - Common ratio

If 200 units of a commodity are consumed in a first year, and if the annual rate of increase in consumption is 5% (a) what amount is consumed in the 8th year; (b) in the first 15 years? - Compound interest 3

After 8 years, what is the total amount of a compound interest investment of $25,000 at 3% interest, compounded quarterly? (interest is now dream - in the year 2019) - A loan

A loan in the amount of $944 is charged simple interest at an annual rate of 8.1%. How much money is owed 14 months after the loan was made?