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Question 20 (4 points) You know the power of saving and compounding, so you decided to put $100 every month starting 1 month later into
Question 20 (4 points) You know the power of saving and compounding, so you decided to put $100 every month starting 1 month later into a fixed income fund that promises to pay 12% APR. Cash flows are compounded monthly. How much money will you have in the fund after 2 years? (Hint: this is annuity, also think about what function you can use in EXCEL) $2400 $2869 $2157 $2697
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