If you save $200 a month for 40 years at an APR of 12%, how much will you have in 40 years? * $1,176,000 $2,353,000 $3,715,000 $7,430,000

Question

If you save $200 a month for 40 years at an APR of 12%, how much will you have in 40 years? * $1,176,000 $2,353,000 $3,715,000 $7,430,000

in progress 0
Hồng Cúc 3 years 2021-08-26T12:58:06+00:00 1 Answers 4 views 0

Answers ( )

  1. Ben
    0
    2021-08-26T12:59:32+00:00
    Reply

    Answer:

    $2,061,941.74

    Step-by-step explanation:

    The computation of the amount in 40 years is shown below:

    Given that

    PMT = $200 × 12 = $2,400

    NPER = 40

    RATE = 12%

    PV = $0

    The formula is shown below:

    = -FV(RATE;NPER;PMT;PV;TYPE)

    After applying the above formula, the future value is $2,061,941.74

Leave an answer

Browse

Giải phương trình 1 ẩn: x + 2 - 2(x + 1) = -x . Hỏi x = ? ( )