Use the savings plan formula to answer the following question You put 5350 per month in an investment plan that pays an APR of 55% How much money will you have ater 19 years Compare this amount to the total deposs made aver the me penod Alter 19 years the ivestnent plan wil contain S (Do not round unti the final anwer Then round to the nearest cent as needed) The tola depouts made over the time perod is S (Type a whole number)
Use the savings plan formula to answer the following question You put 5350 per month in an investment plan that pays an APR of 55% How much money will you have ater 19 years Compare this amount to the total deposs made aver the me penod Alter 19 years the ivestnent plan wil contain S (Do not round unti the final anwer Then round to the nearest cent as needed) The tola depouts made over the time perod is S (Type a whole number)
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
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Use the savings plan formula to answer the following question
Vou pul 50 per month in an investrent plan that pays an APR of 55% How much money will you have ater t10 years? Compare this amount to the total deposs made aver the ime perod.
Alter 19 years then ivestrent plan wil contain S
(Do not round unti he fia answer Then round to the nearest cent as needed)
The lota deposits made over t tine peiod is
(Type a whole number)
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