matttth help please
posted by Maame on .
1. Mike wants to invest money every month for 40 years. He would like to have
$1 000 000 at the end of the 40 years. For each investment option, how
much does he need to invest each month?
a) 10.2%/a compounded monthly
b) 5.1%/a compounded monthly
2. Kenny wants to invest $250 every three months at 5.2%/a compounded
quarterly. He would like to have at least $6500 at the end of his investment.How long will he need to make regular payments?
8.4 Annuities: Future Value