Answer to Question #60358 in Other Economics for Vedini
Clem is saving for a car in a bank account that pays 12% interest, compounded monthly. The balance is now $2400. Clem will be saving $120 per month from his salary, and once every four months (starting in 4 months) he adds $200 in dividends from an investment. Bank fees, currently $10 per month, are expected to increase by $1 per month henceforth. How much will Clem have saved in two years?
According to all the data Clem will have saved in two years such sum: FV = 2400*(1 + 0.12/12)^24 + 120*24 + 200*5 - 11*24 = $6,663.36.
Im very glad to use your service,last semester i used to stress over assignments even tho i knew how to do them but it used to put me in extra stress and specially having 5 courses with it made things hard,ever since i started using your service,it has removed alot of stress for me,im gettinf better grades now,100% in all my assignments till now,ive a humble resquest,i will keep following your website for many years,for your regular or frequent customers you should include some sort of discount other than that everything is perfect