Suppose you decide to invest 100$ per month for the next 40 years into a savings...

 

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Suppose you decide to invest 100$ per month for the next 40 years into a savings account which will pay an annual interest rate of 2% in monthly payments. Therefore there is compounding within year as well. How much wealth will you have accumulated from this investment decision by the end of the 40 years (in nominal $)? Suppose you decide to invest 100$ per month for the next 40 years into a savings account which will pay an annual interest rate of 2% in monthly payments. Therefore there is compounding within year as well. How much wealth will you have accumulated from this investment decision by the end of the 40 years (in nominal $)?

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