You earn $4,000 a month. After taxes, social security contributions, and living expenses you have $600...

 

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You earn $4,000 a month. After taxes, social security contributions, and living expenses you have $600 per month that you can and will save. What is the future value of $600 saved every month for 30 years if the annual rate is of return is 4%. Interest is compounded monthly. Your first deposit is made at the end of month 1. We are looking for the value of your savings 30 years from the time you stated saving. Do not include the $ sign in your answer. Your answer must be in the format, 883,650.00 NO dollar sign. You earn $4,000 a month. After taxes, social security contributions, and living expenses you have $600 per month that you can and will save. What is the future value of $600 saved every month for 30 years if the annual rate is of return is 4%. Interest is compounded monthly. Your first deposit is made at the end of month 1. We are looking for the value of your savings 30 years from the time you stated saving. Do not include the $ sign in your answer. Your answer must be in the format, 883,650.00 NO dollar sign.

Answer rating: 100% (QA)

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