Author Question: Find the value of a retirement savings account paying an APR of 6.6% (compounded monthly) after 40 ... (Read 214 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

A FREE account is required to view all solutions!

Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.

Answer Preview

Only 49% of students answer this correctly