Author Question: Find the value of a retirement savings account paying an APR of 6.6% (compounded monthly) after 40 ... (Read 87 times)

skymedlock · **on:** May 5, 2020

Question 1

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 $70. Round your answer to the nearest cent.
◦ $153,058.18
◦ $151,340.60
◦ $176,383.48
◦ $168,962.63
◦ $164,337.15

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 $170. Round your answer to the nearest cent.
◦ $428,359.87
◦ $410,337.81
◦ $367,541.45
◦ $399,104.52
◦ $371,712.72

millet · **Reply #1 on:** May 5, 2020

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