Asked by Jacob
In an effort to retire comfortably, you decide to deposit $750 at the end of every month
into an annuity that pays 5% compounded monthly. How much will you have saved in 40
years when you are ready to retire? Round to the nearest cent.
into an annuity that pays 5% compounded monthly. How much will you have saved in 40
years when you are ready to retire? Round to the nearest cent.
Answers
Answered by
Steve
just plug your numbers into the annuity future value formula, which you must have.
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