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20 December, 11:39

You put $200 at the end of each month in an investment plan that pays an APR of 4.5%. How much will you have after 18 years? Compare this amount to the total deposits made over the time period.

a.

$66,370.35; $43,200

c.

$66,380.12; $43,000

b.

$66,295.23; $43,000

d.

$66,373.60; $43,200

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Answers (1)
  1. 20 December, 14:26
    0
    Use this formula

    Future Value = Payment • [ ((1 + I) n - 1) / I] you get 66373.6
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