Your investment will grow to just cover property tax bill

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Reference no: EM131950176

1. You need $5,000 in 6 months for your property tax bill. If your investments earn 4% APR (compounded monthly), how much do you have to invest each month, starting next month, for 3 months, such that your investment will grow to just cover your property tax bill?

2. If you invest $3932 today in an account that pays 1.9% APR compounded monthly, how much will you have in the account after 38 months?

3. You plan to visit France for 3 months, (starting next month). You will spend $8,500 in each of those months. How much do you need to invest today to just fund your visit if your investments earn 4.00% APR (compounded monthly)?

Reference no: EM131950176

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