contestada

If you deposit $5,400 at the end of each of the next 25 years into an account paying 10.3 percent interest, how much money will you have in the account in 25 years

Respuesta :

mathmate
A=annual Amount = 5400
i=annual interest = 0.103 [ compounded annually]
n=number of periods [year] = 25

Future value
F=5400((1.103^25-1)/(0.103)
=555629.89

Answer: Future amount in account is $555629.89

Otras preguntas