Rocio invests $170.00 a month for 9 years into an account earning 6% compounded monthly. After 9 years, she leaves the money, without making additional deposits, in the account for another 18 years. How much will she have in the end and what is the total amount of her deposits? Rocio will have_ in her account at the end of 27 years__ and is the total amount of deposits she made. Hint

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 25PROB

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Question

Rocio invests $170.00 a month for 9 years into an account earning 6% compounded monthly. After 9 years, she leaves the money, without making additional deposits, in the account for another 18 years. How much will she have in the end and what is the total amount of her deposits?

Rocio will have_____ in her account at the end of 27 years______ and is the total amount of deposits she made. Hint

Lucille didn't invest anything for the first 9 years, then deposited $170.00 a month for 18 years into an account earning 6% compounded monthly. How much will she have in the end and what is the total amount of her deposits?

Lucille will have______ in her account at the end of 27 years and ________is the total amount of deposits she made.

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