I plan to deposit $348 into my retirement every year for the next 25 years. The first deposit will be made today (that is, at t= 0) and the last deposit will be made at the end of year 24 (that is, at t = 24). I plan to make no other deposits. Assuming that I will earn 8.51% p.a. on my retirement funds, how much money will I have accumulated 36 years from today (that is, at t = 36)? Round your answer to 2 decimal places; record your answer without commas and without a dollar sign. Your Answer: Answer 4
I plan to deposit $348 into my retirement every year for the next 25 years. The first deposit will be made today (that is, at t= 0) and the last deposit will be made at the end of year 24 (that is, at t = 24). I plan to make no other deposits. Assuming that I will earn 8.51% p.a. on my retirement funds, how much money will I have accumulated 36 years from today (that is, at t = 36)? Round your answer to 2 decimal places; record your answer without commas and without a dollar sign. Your Answer: Answer 4
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 12E
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Question
![I plan to deposit $348 into my retirement every year for the next 25 years. The first
deposit will be made today (that is, at t = 0) and the last deposit will be made at the
end of year 24 (that is, at t = 24). I plan to make no other deposits. Assuming that I
will earn 8.51% p.a. on my retirement funds, how much money will I have
accumulated 36 years from today (that is, at t = 36)?
Round your answer to 2 decimal places; record your answer without commas and
without a dollar sign.
Your Answer:
Answer](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6105bbe9-b2c3-40fb-944c-75240601f26b%2F1b052e4b-0470-4eee-ae9e-6731e9e6326b%2Fjocpzxl_processed.jpeg&w=3840&q=75)
Transcribed Image Text:I plan to deposit $348 into my retirement every year for the next 25 years. The first
deposit will be made today (that is, at t = 0) and the last deposit will be made at the
end of year 24 (that is, at t = 24). I plan to make no other deposits. Assuming that I
will earn 8.51% p.a. on my retirement funds, how much money will I have
accumulated 36 years from today (that is, at t = 36)?
Round your answer to 2 decimal places; record your answer without commas and
without a dollar sign.
Your Answer:
Answer
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