Question
You are trying to save a little money for retirement. You plan on depositing $15 into a savings account every month starting today (t=0) for
You are trying to save a little money for retirement. You plan on depositing $15 into a savings account every month starting today (t=0) for 30 years (last deposit 30 years from today). If the bank quotes you an ANNUAL interest rate of 6% (compounded monthly), how much will be in your savings account 30 years from today (last deposit also 30 years from today)?
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Basic Finance An Introduction To Financial Institutions, Investments, And Management
Authors: Herbert B. Mayo
12th Edition
1337691011, 978-1337691017
