Sally packs a picnic lunch and spends every other Saturday in the park; that night, she deposits $100 in an online mutual fund savings account which pays 8% interest. If Sally’s account compounds monthly, calculate how much Sally will have in her savings account:
Based on the first scenario:
Answer the following question utilizing the Future Value of an Annuity calculator:
In 10 years?
In 20 years?
In 30 years?
In 40 years?