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II. A person invested in a retirement fund (AFORE) $5,000.00 every month at the end of each month for 35 years. The interest rate paid
II. A person invested in a retirement fund (AFORE) $5,000.00 every month at the end of each month for 35 years. The interest rate paid by the fund is 8.5% effective annual interest. Assume also that at the end of each year there were triple contributions to the fund (the normal income plus two additional contributions). 3. Calculate the monthly rate: 0.68215% per month. 4. Calculate the accumulated value in the fund (Future Value). Rp. 13,932,911.36
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