Robin, who is self-employed, contributes $5000/year into a Keogh account. How much will he have in the account after 25 years if the account earns interest at the rate of 4.5%/year compounded yearly? (Round your answer to the nearest cent.) $

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 26E
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Robin, who is self-employed, contributes $5000/year into a Keogh account. How much will he have in the account after 25 years if the
account earns interest at the rate of 4.5%/year compounded yearly? (Round your answer to the nearest cent.)
$
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Transcribed Image Text:MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Robin, who is self-employed, contributes $5000/year into a Keogh account. How much will he have in the account after 25 years if the account earns interest at the rate of 4.5%/year compounded yearly? (Round your answer to the nearest cent.) $ Need Help? Read It Watch It
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