137k views
0 votes
Cannon wants to put as much as he can into a retirement account as soon as he starts working. He deposits $25,000 at then end of each year for 5 years in an account paying 6% interest compounded annually. How much will he have in the account at the start of the 6th year?

User EXODIA
by
8.0k points

2 Answers

5 votes
At the beginning of the 6th year, he will have $50,855.64 .
User Nehal Godhasara
by
7.7k points
3 votes

Answer:

$140,927.34

Explanation:

User KItis
by
8.5k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories