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Author Question: Find the value of a retirement savings account paying an APR of 5.4% (compounded monthly) after 45 ... (Read 397 times)

Destiiny22

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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


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Marked as best answer by Destiiny22 on May 5, 2020

chem1s3

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Destiiny22

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Reply 2 on: May 5, 2020
Great answer, keep it coming :)


kthug

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Reply 3 on: Yesterday
Wow, this really help

 

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