Author Question: Find the value of a retirement savings account paying an APR of 6.6% (compounded monthly) after 40 ... (Read 245 times)

jparksx · **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 $225. Round your answer to the nearest cent.
◦ $514,856.58
◦ $485,228.09
◦ $483,086.26
◦ $530,903.96
◦ $546,125.20

Question 2

Find the value of a retirement savings account paying an APR of 6.6% (compounded monthly) after 40 years of monthly contributions (contributions made at the end of each month, including the last month) when the monthly contribution is $100. Round your answer to the nearest cent.
◦ $216,200.85
◦ $234,767.36
◦ $251,976.40
◦ $241,375.18
◦ $218,654.54

matt95 · **Reply #1 on:** May 5, 2020

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