You are planning to make monthly deposits of $400 into a retirement account that pays 10 percent interest compounded monthly. if your first deposit will be made one month from now, how large will your

asked Apr 16, 2022 77.0k views

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13 votes

Jjfjfjfjfjrkkeoicidieieieijfjjgjgjrid dndjjdiekf. Ririekekrkkdkdfkkffkrkkrkrkficihfhdhdhhdjsj+Kelley

DKnight answered Apr 16, 2022

8.2k points

10 votes

Answer:

Using the future value (FV) formula,

R = .10/12

N = 12*30

P = 400

Your future value would be $904,195.17

Explanation:

Amit Bhoyar answered Apr 20, 2022

8.3k points

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