Answered step by step
Verified Expert Solution
Question
1 Approved Answer
If you invest $300 every month for the next 30 years at 1% return per month. What would your end portfolio value be? monthly return
If you invest $300 every month for the next 30 years at 1% return per month. What would your end portfolio value be? monthly return is 1% or annual return r= 12% monthly payment is $300 = PMT t= 30 years find how many monthly periods per year= n find how many total periods = nt Using your data above, find the solution to the Formula for Future Value of a Series = PMT *{[(1+r/n)(nt)-1]/(r/n)}
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started