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Lana wants to have $100,000 in 20 years. She plans to invest $8,000 to start and make yearly payments of $1,500 to the account. She will be receiving 7.5% interest compounded mo…

Lana wants to have $100,000 in 20 years. She plans to invest $8,000 to start and make yearly payments of $1,500 to the account. She will be receiving 7.5% interest compounded mo…
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18 votes
Lana wants to have $100,000 in 20 years. She plans to invest $8,000 to start and make yearly payments of $1,500 to the account. She will be receiving 7.5% interest compounded monthly on her investment. Will she reach her goal?

No
Yes

User Haseeb Akhtar
by
8.3k points

1 Answer

8 votes

Answer:

Yes Lana will reach her goal she'll have 10,414.58 by the end of the 6 years,

Explanation:

User Diego Martinoia
by
7.9k points
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