If your monthly payments are $173, how much will you have in your retirement fund after 40 years? $ Round to the nearest dollar. LA

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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# Saving for Retirement

You decide to make monthly payments into a retirement fund earning 4.75% compounded monthly. Note: Payments are made at the end of each period.
Transcribed Image Text:# Saving for Retirement You decide to make monthly payments into a retirement fund earning 4.75% compounded monthly. Note: Payments are made at the end of each period.
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If your monthly payments are $173, how much will you have in your retirement fund after 40 years?

$____________.  Round to the nearest dollar.

**Answer:**
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Transcribed Image Text:**Retirement Fund Calculator** **Question:** Use the Saving for Retirement information above to answer this question. If your monthly payments are $173, how much will you have in your retirement fund after 40 years? $____________. Round to the nearest dollar. **Answer:** (Please enter your answer in the space provided.)
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