Use the savings plan formula to answer the following question You put $300 per month in an investment plan that pays an APR of 4.5%. How much money will you have after 28 years? Compare this amount to the total deposits made over the time period CILE After 28 years the investment plan will contain S (Do not round until the final answer. Then round to the nearest cent as needed.) The total deposits made over the time period is $ (Type a whole number.)
Use the savings plan formula to answer the following question You put $300 per month in an investment plan that pays an APR of 4.5%. How much money will you have after 28 years? Compare this amount to the total deposits made over the time period CILE After 28 years the investment plan will contain S (Do not round until the final answer. Then round to the nearest cent as needed.) The total deposits made over the time period is $ (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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![Use the savings plan formula to answer the following question.
You put $300 per month in an investment plan that pays an APR of 4.5%. How much money will you have after 28 years? Compare
this amount to the total deposits made over the time period.
After 28 years the investment plan will contain S
(Do not round until the final answer. Then round to the nearest cent as needed.)
The total deposits made over the time period is $
(Type a whole number.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4b05d55e-6948-4bde-bbf5-25c077ddfdc2%2Fe0c3e119-783c-45ec-915b-9fc2c1b0db41%2Fl1k5d98_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Use the savings plan formula to answer the following question.
You put $300 per month in an investment plan that pays an APR of 4.5%. How much money will you have after 28 years? Compare
this amount to the total deposits made over the time period.
After 28 years the investment plan will contain S
(Do not round until the final answer. Then round to the nearest cent as needed.)
The total deposits made over the time period is $
(Type a whole number.)
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