SOLUTION: Abby invested €8000 at the of each year for 45 years (until age 70) in an account that pays 15% compounded annually
Calculate how much Abby will have at age 70
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-> SOLUTION: Abby invested €8000 at the of each year for 45 years (until age 70) in an account that pays 15% compounded annually
Calculate how much Abby will have at age 70
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Question 1073381: Abby invested €8000 at the of each year for 45 years (until age 70) in an account that pays 15% compounded annually
Calculate how much Abby will have at age 70 Answer by addingup(3677) (Show Source):
You can put this solution on YOUR website! 8000 at the ???? of each year for 45 years in an account that pays 15%
Pray tell, at the beginning or the end of each year?
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Since you don't say if the investment is made at the beginning or the end of the year, I will assume it's at the end of the year:
8000[((1+0.15)^45)-1]/0.15 = 28,681,027.68
