Business Math Question (Planning: The Key to Wealth)?
1. How much interest will Abdol receive on $1,000 in a 365-day year if he keeps it in the money market account earning 2.25% compounded daily
2. How much money must Abdol shift from his other accounts to his emergency fund to have four times his monthly bills in the account by the end of the year
3. Abdol realizes he needs to earn more interest than his current money market can provide. Using annual compounding on an account that pays 5.5% interest annually, find the amount Abdol needs to invest to have the $8,000 down payment for his house in 5 years