SOLUTION: Use formulas: S = P*(1+r/12^12t-1) / (r/12)
S stands for the accumulated savings when you invest P amount every month for t years at an interest rate r which is compounded month
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-> SOLUTION: Use formulas: S = P*(1+r/12^12t-1) / (r/12)
S stands for the accumulated savings when you invest P amount every month for t years at an interest rate r which is compounded month
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Question 22735: Use formulas: S = P*(1+r/12^12t-1) / (r/12)
S stands for the accumulated savings when you invest P amount every month for t years at an interest rate r which is compounded monthly.
If you invest $250. in an account each month beginning when you are 30 years old, how much will you have at 55 when you plan to retire, if it is invested at 5% compounded monthly. Answer by Paul(988) (Show Source):
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