Author Question: Find the value of a retirement savings account paying an APR of 5.4% (compounded monthly) after 45 ... (Read 396 times)

Destiiny22 · **on:** May 5, 2020

Question 1

Find the value of a retirement savings account paying an APR of 5.4% (compounded monthly) after 45 years of monthly contributions (contributions made at the end of each month, including the last month) when the monthly contribution is $140. Round your answer to the nearest cent.
◦ $339,811.23
◦ $301,919.70
◦ $330,340.24
◦ $300,587.01
◦ $320,355.20

Question 2

Find the value of a retirement savings account paying an APR of 5.4% (compounded monthly) after 45 years of monthly contributions (contributions made at the end of each month, including the last month) when the monthly contribution is $75. Round your answer to the nearest cent.
◦ $161,742.70
◦ $176,967.99
◦ $171,618.86
◦ $182,041.73
◦ $161,028.76

chem1s3 · **Reply #1 on:** May 5, 2020

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