Sunday 10 March 2013

You are planning to make monthly deposits of $380 into a retirement account that pays 10 percent interest compounded monthly. If your first deposit will be made one month from now, how large will your retirement account be in 30 years? (Use 360 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

You are planning to make monthly deposits of $380 into a retirement account that pays 10 percent interest compounded monthly. If your first deposit will be made one month from now, how large will your retirement account be in 30 years? (Use 360 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

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