Question

Leslie invests $2500 in a savings account for 10 years. The account accrues interest at a rate

of 6% compounded semi-annually. How much money will be in the account at the end of the
10 years?

Answer 1

You make $32,000 a year and want to save 10% of your income every year. How much should you put into savings every month?

$32$,000 x 0.10 = 3,200

You want to save $3200 a year.

You should be saving $266.67 a month or $133.33 a paycheck if you are paid

Explanation: