SophiaPretty

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Category > Computer Science Posted 12 Dec 2017 My Price 6.00

difference in months between the 2 different payment

Do it on excel

Mr Wiggins wants to borrow $20,000 from Bank ABC.

Bank ABC is offering him 4% annually. Mr Watkins decides to deposit $2,000. as his initial payment and pay $250. at the beginning of each month. How long will it take to accumulate $20,000.

He then considers depositing $1,000. as his initial payment and pay $300. at the beginning of each month. Which payment schedule will reach $20,000. faster and what is the difference in months between the 2 different payment schedules.

Round your answers to the nearest integer.

Answers

SophiaPretty
(5)
Status NEW Posted 12 Dec 2017 10:12 AM My Price 6.00

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