An employee invests £1000 at the end of each month into her Pension Fund for 30 years. What is the value of her Pension Fund if it grows at an annual rate of 6% (0.5% per month) at the end of the 30 years.
An employee invests £1000 at the end of each month into her Pension Fund for 30 years. What is the value of her Pension Fund if it grows at an annual rate of 6% (0.5% per month) at the end of the 30 years.
Chapter9: Sequences, Probability And Counting Theory
Section: Chapter Questions
Problem 29RE: Alejandro deposits $80 of his monthly earnings into an annuity that earns 6.25% annual interest,...
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Transcribed Image Text:An employee invests £1000 at the end of each month into her Pension Fund
(b)
for 30 years. What is the value of her Pension Fund if it grows at an annual
rate of 6% (0.5% per month) at the end of the 30 years.
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