SOLUTION: tom saves $300 at the end of each month for 20 years. he invests the money at 14% a compounded monthly. how much will he have saved?

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Question 936143: tom saves $300 at the end of each month for 20 years. he invests the money at 14% a compounded monthly. how much will he have saved?
Answer by ptfile(81)   (Show Source): You can put this solution on YOUR website!
Let A = Periodic amount
    R = Interest rate
    N = Number of intervals
    T = duration of payment
   FV = Future Value








He saved $390349.82 in 20 years.
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