Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If you start making $180 monthly contributions today and continue them for five years, what's their future value if the compounding rate is 10.75 percent

image text in transcribed
If you start making $180 monthly contributions today and continue them for five years, what's their future value if the compounding rate is 10.75 percent APR? (Do not round Intermediate calculations and round your final answer to 2 decimal places.) Future value annuity +. What is the present value of this annuity? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Present value annuity : $ 8,401.00

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Public Finance

Authors: Harvey S. Rosen

3rd Edition

0256083762, 978-0256083767

More Books

Students also viewed these Finance questions