You are planning to make monthly deposits of £400 into a retirement account that pays 7 per cent interest compounded monthly. Required: If your first deposit will be made one month from now, how large will your retirement account be in 40 years? (Round your answer to 2 decimal places (e.g., 32.16). The program includes a margin of error of +/− 1%.) The future value of the deposit = ?
You are planning to make monthly deposits of £400 into a retirement account that pays 7 per cent interest compounded monthly. Required: If your first deposit will be made one month from now, how large will your retirement account be in 40 years? (Round your answer to 2 decimal places (e.g., 32.16). The program includes a margin of error of +/− 1%.) The future value of the deposit = ?
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
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You are planning to make monthly deposits of £400 into a retirement account that pays 7 per cent interest compounded monthly.
Required:
If your first deposit will be made one month from now, how large will your retirement account be in 40 years? (Round your answer to 2 decimal places (e.g., 32.16). The program includes a margin of error of +/− 1%.)
The
Ik kom zelf op het antwoord 1,049,925.35 uit en het antwoordmodel op 1,043,438.63
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