SOLUTION: Suppose that you save for retirement by contributing the same amount each month from your 23rd birthday until your 65th birthday, in an account that pays a steady 5% annual interes

Question 1168962: Suppose that you save for retirement by contributing the same amount each month from your 23rd birthday until your 65th birthday, in an account that pays a steady 5% annual interest compounded monthly. How much will be in your fund if you get a steady return of 10% compounded monthly?
Answer by ikleyn(52781)   (Show Source): You can put this solution on YOUR website!
.

I can not give you a quantitative solution, since you do not provide the amount value deposited each month.

But I will give you something more valuable, instead - the links to the lessons exposing the theory,
the method and the solved problems - - - your TEMPLATES.

On ordinary annuity saving plans, see my lessons

    - Ordinary Annuity saving plans and geometric progressions
    - Solved problems on Ordinary Annuity saving plans

in this site.

Happy learning (!)

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