LO 1 24. Calculating Annuity Future Values. You are to make monthly deposits of $500 into a retirement account that pays an APR of 9.8 percent compounded monthly. If your first deposit will be made one month from now, how large will your retirement account be in 35 years? . LO 1 25. Calculating Annuity Future Values. In the previous problem, suppose you Xmake $6,000 annual deposits into the same retirement account. How large will your accou@alance be in 35 years?
LO 1 24. Calculating Annuity Future Values. You are to make monthly deposits of $500 into a retirement account that pays an APR of 9.8 percent compounded monthly. If your first deposit will be made one month from now, how large will your retirement account be in 35 years? . LO 1 25. Calculating Annuity Future Values. In the previous problem, suppose you Xmake $6,000 annual deposits into the same retirement account. How large will your accou@alance be in 35 years?
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....
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I keep getting 1,776,000 but the book says it's 1,723,472.13. I am solving for EAR first = 10.2524 then I use that in FV
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