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.

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 24P
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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.
Transcribed Image Text: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.
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