Question

As part of your retirement planning, you purchase an annuity that pays 4 % annual interest compounded quarterly

If you make quarterly payments of $600 how much will you have saved in 5
years?

instead, if you make quarterly payments of $300, how much will you have saved in 10 years

Answer 1

This Might Be Helpful To You

Explanation:

It is a good idea to try to save up money to buy large items or find 0% interest deals so

you are not paying interest. However, this is not always possible, especially when buying

a house or car. That is when it is important to understand how much interest you will be

charged on your loan.