Asked by Maame

Derek invests $250 per month for years at 4.8%/a compounded monthly.
How much will his investment be worth at the end of the years?
Answered by Reiny
at the end of how many years ????

amount = 250 (1.004^(number of months) - 1)/.004
Answered by Tart
you can use the annuity formula for future value:
FV=R((1+i)^n-1)/(i)

R=250
i=4.8%/12
n=12*number of years
find the FV
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