Investigate bank interest rates to find the best possible savings interest rate near you compounded at a monthly rate.

Saving for a car or home in installments: Suppose you have $10,000 to put in a savings account

now and in addition you hope to put in more money each month for the next 5 years. Investigate

bank interest rates to find the best possible savings interest rate near you compounded at a

monthly rate. Look up information on annuity and sinking funds. Figure out how much you will

need to put in the account each month for the next 5 years to have $25,000 in the account at the

end of the 5 years

 

Current savings account interest for td bank is 0.05%

 

All mathmatical calculations must be shown using compound interest formula.

 

Should have a written paper 1 to 3 pages explaining how everything went

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