Tim deposits $10 every month into a retirement account which averages 18% interest compounded monthly. How much will be in this account after 45 years? (The number of years form age 20 to 65))

Question

Tim deposits $10 every month into a retirement account which averages 18% interest compounded monthly. How much will  be in this account after 45 years? (The number of years form age 20 to 65))

Reiny · Answer

what is 10( 1.015^540 - 1)/.015 ? (don't be surprised if you get over 2 Million dollars)