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If you make monthly payments for your savings at the end of each month of $500.00 for the next 20 years and you can earn

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If you make monthly payments for your savings at the end of each month of $500.00 for the next 20 years and you can earn 10.50% compounded monthly, What is the the Future Value in 20 years or how much will you have saved in the 20 years? Also calculate: the total amount of all the monthly payments that you made, and the total interest earned. Savings Plan Remember to use Round Where Required Class Video Reference: Video/Class Project 45 Monthly Payment PMT Annual Rate i Years X # of Compounding Periods per year n Monthly Rate i Months x*n Future Value (FV) FV Total of all payments Interest earned

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