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Please answer as quickly as possible and correctly and I will give a thumbs up all steps do NOT have to be shown as long
Please answer as quickly as possible and correctly and I will give a thumbs up all steps do NOT have to be shown as long as the final answer is correct, thank you.
Abib just reach the age of 25 . He starts a retirement fund and will deposit $1,200 at the end of every quarter for the next 10 years. In total, he will make 40 quarterly payments of $1,200 each and his last (40-th) deposit will be made at the end of the 10 th vear. on his 35 -th birthdav. He will leave the fund to arow until he reaches 65 vears old (i.e.. for another 30 vears). The interest rate is guaranteed to be 8%, compounded quarterly. How much does he expect to accumulate when he turns 65 years old? $780,284.9 $729,390.4 $518,309.1 $585,213.6 $547,042.8Step by Step Solution
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