Question

You want to quit your job and go back to school for law degree 4 years from now, and you plan to save rm 6,400 per year, beginning immediately. You will make 4 deposits in an account that pays 5. 7% interest. Under these assumptions, how much will you have 4 years from today?

Answer 1

`4 *( 6400 + 6400 * ( (5.7)/(100) )) =4 * (6400 + 6400 * 0.057) = 4 * (6400 + 364.8) = 4 * 6764.8 = 27059.2`