Question
You deposit $400 each month in a savings plan. The first monthly deposit occurs in month 2 and the final occurs in month 11. What
You deposit $400 each month in a savings plan. The first monthly deposit occurs in month 2 and the final occurs in month 11. What is the accumulated value of your savings in 12 months time. Interest rate 18% p.a. compounded monthly.
a. $4.281.09
b. $3,823.74
c. $5.216.48
d. $4.816.48
e. $4.345.30
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Fundamentals Of Corporate Finance
Authors: Richard A. Brealey, Marcus, Alan J, Myers, Stewart C.
2nd Edition
0070074860, 9780070074866
