Question 1135512
if you use the following financial calculator, you will get the following results.


<a href = "https://arachnoid.com/finance/" target = "_blank">https://arachnoid.com/finance/</a>


after 5 years, you will have $10,559.38.


28 years after that, you will have $130,010.02.


i also used the TI-BA-II Business Analyst calculator and got $130,010.01 without rounding the intermediate number of $10,559.38.


using the BA-II, that future value came out as 10,559.37917.


the online financial calculator rounded that to 10,559.38.


consequently, your answer could be 130,010.02 or it could be 130,010.02.


try those out and see how your do.


there are also manual formula that you can use, but i wouldn't bother with those unless you are absolutely required to use them.


most of the ones that apply are in the following reference.


<a href = "https://www.algebra.com/algebra/homework/Finance/THEO-2016-04-29.lesson#notes" target = "_blank">https://www.algebra.com/algebra/homework/Finance/THEO-2016-04-29.lesson#notes</a>


the first of these formulas you would use is:


FUTURE VALUE OF AN ANNUITY WITH END OF TIME PERIOD PAYMENTS 

f = (a*((1+r)^n-1))/r 

f is the future value of the annuity.
a is the annuity.
r is the interest rate per time period.
n is the number of time periods 


a is equal to 140.
r is equal to 9/12 = .75 / 100 = .0075
n is equal to 5 * 12 = 60
solve for f to get f = 10559.37917


you would then take the future value result from formula and make it the present value of the following formula.


FUTURE VALUE OF A PRESENT AMOUNT 

f = p*(1+r)^n 

f is the future value.
p is the present amount.
r is the interest rate per time period.
n is the number of time period. 


p is equal to 10559.37917
r is equal to .0075
n is equal to 28 * 12 = 336
solve for f to get f = 130010.0131


i also confirmed through excel that these figures are accurate.


here's the results of the excel analysis.


<img src = "http://theo.x10hosting.com/2019/022501.jpg" alt="$$$" >


<img src = "http://theo.x10hosting.com/2019/022502.jpg" alt="$$$" >


<img src = "http://theo.x10hosting.com/2019/022503.jpg" alt="$$$" >


here's the results of the online calculator analysis.


<img src = "http://theo.x10hosting.com/2019/022504.jpg" alt="$$$" >


<img src = "http://theo.x10hosting.com/2019/022505.jpg" alt="$$$" >