Ask Question
31 December, 18:30

You are planning to make monthly deposits of $400 into a retirement account that pays 10 percent interest compounded monthly. if your first deposit will be made one month from now, how large will your retirement account be in 30 years?

+1
Answers (1)
  1. 31 December, 22:29
    0
    Using the future value (FV) formula,

    R =.10/12

    N = 12*30

    P = 400

    Your future value would be $904,195.17
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “You are planning to make monthly deposits of $400 into a retirement account that pays 10 percent interest compounded monthly. if your first ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers