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You deposit $5,000 per year at the end of each of the next 25 years into an account that pays 8% compounded annually. What will be the value of the account in 25 years, rounded to the nearest dollar
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You deposit $5,000 per year at the end of each of the next 25 years into an account that pays 8% compounded annually. What will be the value of the account in 25 years, rounded to the nearest dollar

User Tobias Fuchs
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1 Answer

4 votes

Answer:

future value = $365529.69

Step-by-step explanation:

given data

deposit = $5,000

time period = 25 years

compounded annually = 8%

solution

we get here future value that is express as in excel by formula that is

=FV(rate;NPER; PMT)

here NPER is 25 and PMt is -5000

and rate is 8%

put value and we get

future value = $365529.69

You deposit $5,000 per year at the end of each of the next 25 years into an account-example-1
User Kevinkayaks
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