Find the value of a retirement savings account with an annual contribution of ​$1700​(contributions made at the end of each​ year, including the last​ year), and an APR of 5.5​% after the given number of years. When the annual contribution is $1700​, the value of a retirement savings account paying an APR of 5.5​% after 40 years is:​(a) 40 years ​(b) 50 years ​(c) 54 years

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
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Find the value of a retirement savings account with an annual contribution of ​$1700​(contributions made at the end of each​ year, including the last​ year), and an APR of 5.5​% after the given number of years.
When the annual contribution is $1700​, the value of a retirement savings account paying an APR of 5.5​% after 40 years is:​(a) 40 years
​(b) 50 years
​(c) 54 years
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