1. You are planning on depositing $50.00 per month, with the first deposit one month from today, for 10 years (120 total deposits), and then stop making deposits. How much will you have in yourr account when you are finished making deposits (10 years from today) assuming the account earns 6% per year and you don't withdraw any money from it? Assume monthly compounding for all of your calculations. a. b. C. d. $8,382.99 $7,803.78 $8,802.13 $8,193.97
1. You are planning on depositing $50.00 per month, with the first deposit one month from today, for 10 years (120 total deposits), and then stop making deposits. How much will you have in yourr account when you are finished making deposits (10 years from today) assuming the account earns 6% per year and you don't withdraw any money from it? Assume monthly compounding for all of your calculations. a. b. C. d. $8,382.99 $7,803.78 $8,802.13 $8,193.97
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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A 79.
Subject:- finance
Transcribed Image Text:1. You are planning on depositing $50.00 per month, with the first deposit one month from today, for 10
years (120 total deposits), and then stop making deposits. How much will you have in yourr account
when you are finished making deposits (10 years from today) assuming the account earns 6% per year
and you don't withdraw any money from it? Assume monthly compounding for all of your calculations.
a.
b.
C.
d.
e.
$8,382.99
$7,803.78
$8,802.13
$8,193.97
$8,234.94
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