You have $$40,000$ saved so far, and will continue to save $$400$ at the end of each month. If you earn $9\%$ compounded monthly, how much will you have accumulated at the end of $40$ years?

$$2,369,516$

$$2,099,249$

$$1,361,648$

$$3,316,924$

none of the above

QUESTION $20$

A perpetuity returns cashflow in the amount of $$250$ per month. Using a rate of $6\%,$ what is the present value of the monthly perpetuity?

$$25,000$

$$45,000$

$$125,000$

$$50,000$

none of the above