Assume that you contribute $290 per month to a retirement plan for 20 years. Then you...
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Assume that you contribute $290 per month to a retirement plan for 20 years. Then you are able to increase the contribution to $580 per month for another 30 years. Given a 7.2 percent interest rate, what is the value of your retirement plan after the 50 years? Note: Do not round intermediate calculations and round your final answer to 2 decimal places. Future value of multiple annuities Assume that you contribute $290 per month to a retirement plan for 20 years. Then you are able to increase the contribution to $580 per month for another 30 years. Given a 7.2 percent interest rate, what is the value of your retirement plan after the 50 years? Note: Do not round intermediate calculations and round your final answer to 2 decimal places. Future value of multiple annuities
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To calculate the future value of multiple annuities we can use the formula for the future value of a... View the full answer
Related Book For
Finance Applications and Theory
ISBN: 978-0077861681
3rd edition
Authors: Marcia Cornett, Troy Adair
Posted Date:
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