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Your employer offers a retirement plan which pays 8.5% compounded monthly. If you deposit $420 / month for 47 years into this retirement plan, how much money will you have in th…

Your employer offers a retirement plan which pays 8.5% compounded monthly. If you deposit $420 / month for 47 years into this retirement plan, how much money will you have in th…
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5 votes
Your employer offers a retirement plan which pays 8.5% compounded monthly. If

you deposit $420 / month for 47 years into this retirement plan, how much money
will you have in this account 47 years from now?

User Melquan
by
9.4k points

1 Answer

3 votes

Answer:$19,740

Explanation:

Hope its right.

User Dan Matthews
by
7.8k points
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