Assume you contribute $210 per month toa retirement plan for 15 years. If contributenothing else, and assuming a 6.4% interestrate, what is the value of the retirementplan 40 years from today? (Keep 2decimals. For example, 1,008.51)

Please comment down for any doubt. I hope my answer helps you.

Answered: Assume you contribute $210 per month to…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Assume you contribute $210 per month to a retirement plan for 15 years. If contribute nothing else, and assuming a 6.4% interest rate, what is the value of the retirement plan 40 years from today? (Keep 2 decimals. For example, 1,008.51)