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Author Question: The value of a retirement savings account with an annual contribution of $1800 (contributions made ... (Read 142 times)

imanialler

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Question 1

Find the value of a retirement savings account paying an APR of 6.2% after 40 years (contributions made at the end of each year, including the last year) when the annual contribution is $2700. Round your answer to the nearest cent.
◦ $469,404.24
◦ $439,457.86
◦ $411,259.75
◦ $434,574.99
◦ $486,451.91

Question 2

The value of a retirement savings account with an annual contribution of $1800 (contributions made at the end of each year, including the last year), and an APR of 5.4% after 40 years is $239,880.81.
Find the value of this retirement savings account after 45 years. Round your answer to the nearest cent.
◦ $312,992.88
◦ $303,849.63
◦ $341,248.61
◦ $322,057.51
◦ $331,414.49


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Marked as best answer by imanialler on May 5, 2020

matt95

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imanialler

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Reply 2 on: May 5, 2020
Thanks for the timely response, appreciate it


kalskdjl1212

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Reply 3 on: Yesterday
Wow, this really help

 

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