Question

assuming the economy has gotten better andthat the funds now have a return of 7.72% compounded monthly. Diane salary has risen now she can contribute $1000 a month. At the end of the next 15 yrs, how much is her account worth.

Answer 1

Assuming she actually does contribute 1000/month, then after 15 years she will have

1000((1+.0772/12)^(12*15)-1)/(.0772/12) = 337,581.42