Adam is planning for hnis retirement. Starting Jahuary 2022, he will deposit $2,000 to a pension account at the end of the month for the first (i.e., 9 monthly deposits from January to September, no deposit for Oct, Nov. and Dec.). He will continue this contribution pattern for totally 20 years (2022 - 2041). How much will be accumulated at the end of 2041 (Dec. 31, 2041). Assuming the pension fund guarantees an annual interest rate of 12%, compounded monthly. montns of the y (Note: funds will continue gain interests in Oct., Nov. and Dec. when there is no deposit!) O $1,505,750. < FW(at Dec., 31, 2041) < $1,505,850. $1,401,600. < FW(at Dec., 31, 2041) < $1,401,700. O $1,390,900. < FW(at Dec., 31, 2041) < $1,391,000. O $1,350,000. < FW(at Dec., 31, 2041) < $1,350,100.

Adam is planning for hnis retirement. Starting Jahuary 2022, he will deposit $2,000 to a pension account at the end of the month for the first (i.e., 9 monthly deposits from January to September, no deposit for Oct, Nov. and Dec.). He will continue this contribution pattern for totally 20 years (2022 - 2041). How much will be accumulated at the end of 2041 (Dec. 31, 2041). Assuming the pension fund guarantees an annual interest rate of 12%, compounded monthly. montns of the y (Note: funds will continue gain interests in Oct., Nov. and Dec. when there is no deposit!) O $1,505,750. < FW(at Dec., 31, 2041) < $1,505,850. $1,401,600. < FW(at Dec., 31, 2041) < $1,401,700. O $1,390,900. < FW(at Dec., 31, 2041) < $1,391,000. O $1,350,000. < FW(at Dec., 31, 2041) < $1,350,100.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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