A retirement account is opened with an initial deposit of $6,500 and earns 9.11% interest compounded monthly. What will the account be worth in 45 years?

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asked May 17, 2023 38.8k views

4 votes

A retirement account is opened with an initial deposit of $6,500 and earns 9.11% interest compounded monthly. What will the account be worth in 45 years?

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Dalton asked

by Dalton

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1 Answer

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Answer: $385,993.09

Explanation:

Initial Amount: 6500

Rate: 0.0911 comp. monthly

Time: 45 years

Answer: 385,993.09

Eronisko answered May 23, 2023

by Eronisko

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