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13 Nov 2019
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Suppose someone wants to accumulate â$120,000 for retirement in 30 years. The person has two choices. Plan A is a single deposit into an account with annual compounding and an APR of 6â%.Plan B is a single deposit into an account with continuous compounding and an APR of 5.6â%.How much does the person need to deposit in each account in order to reach theâ goal?
The person must deposit â__ into the account for Plan A to reach the goal of â$120,000.
The person must deposit __ into the account for Plan B to reach the goal of â$120,000.
â
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Suppose someone wants to accumulate â$120,000 for retirement in 30 years. The person has two choices. Plan A is a single deposit into an account with annual compounding and an APR of 6â%.Plan B is a single deposit into an account with continuous compounding and an APR of 5.6â%.How much does the person need to deposit in each account in order to reach theâ goal?
The person must deposit â__ into the account for Plan A to reach the goal of â$120,000.
The person must deposit __ into the account for Plan B to reach the goal of â$120,000.
â
Keith LeannonLv2
6 Sep 2019
