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Author Question: Find the value of a retirement savings account paying an APR of 5.8% after 45 years (contributions ... (Read 272 times)

Diane

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Question 1

For an investment having an APY of 5%, estimate the number of years needed to double the principal.
◦ 9 years
◦ 6 years
◦ 10 years
◦ 15 years
◦ none of these

Question 2

Find the value of a retirement savings account paying an APR of 5.8% after 45 years (contributions made at the end of each year, including the last year) when the annual contribution is $1200. Round your answer to the nearest cent.
◦ $214,705.00
◦ $226,552.56
◦ $240,892.61
◦ $256,064.38
◦ $230,855.41


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Marked as best answer by Diane on May 5, 2020

macagnavarro

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Diane

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Reply 2 on: May 5, 2020
YES! Correct, THANKS for helping me on my review


EAN94

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Reply 3 on: Yesterday
Excellent

 

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