8) Consider a retirement savings account where the monthly contribution is $150 for the first 10 years, is increased to $200 for the next 20 years, and then is increased once again to $250 for the last 15 years. The APR is always 5.1% compounded monthly. What is the value of the account at the end of 45 years? Round your answer to the nearest cent. A) $389,016.83 B) $384,840.75 C) $391,468.51 D) $387,291.43 E) $380,662.67 8)
8) Consider a retirement savings account where the monthly contribution is $150 for the first 10 years, is increased to $200 for the next 20 years, and then is increased once again to $250 for the last 15 years. The APR is always 5.1% compounded monthly. What is the value of the account at the end of 45 years? Round your answer to the nearest cent. A) $389,016.83 B) $384,840.75 C) $391,468.51 D) $387,291.43 E) $380,662.67 8)
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:8) Consider a retirement savings account where the monthly contribution is $150 for the first 10
years, is increased to $200 for the next 20 years, and then is increased once again to $250 for the
last 15 years. The APR is always 5.1% compounded monthly. What is the value of the account at
the end of 45 years?
Round your answer to the nearest cent.
A) $389,016.83
(20
B) $384,840.75
C) $391,468.51
D) $387,291.43
E) $380,662.67
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