How much will you have at the end of 20 years if you invest $100 at the end of the month starting a month from today and subsequently you invest 0.6% more each month. The interest rate is stated as an annual rate of 15% compounded monthly?

How much will you have at the end of 20 years if you invest $100 at the end of the month starting a month from today and subsequently you invest 0.6% more each month. The interest rate is stated as an annual rate of 15% compounded monthly?

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 11E

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I am stuck on this question, how can i solve it using formulas

How much will you have at the end of 20 years if you invest $100 at the end of the
month starting a month from today and subsequently you invest 0.6% more each month.
The interest rate is stated as an annual rate of 15% compounded monthly?

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