Francine currently has $75,000 in her 401k account at work, and plans to contribute $600 at the end of each month for the next 15 years. How much will she have in the account in 15 years, if the account averages a 6% annual return? Assume monthly compounding. Anwwer = $ (Round to the nearest cent/penny)

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 26E
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Francine currently has $75,000 in her 401k account at work, and plans to contribute $600 at the end of
each month for the next 15 years. How much will she have in the account in 15 years, if the account
averages a 6% annual return? Assume monthly compounding.
Anwwer = $
(Round to the nearest cent/penny)
Transcribed Image Text:Francine currently has $75,000 in her 401k account at work, and plans to contribute $600 at the end of each month for the next 15 years. How much will she have in the account in 15 years, if the account averages a 6% annual return? Assume monthly compounding. Anwwer = $ (Round to the nearest cent/penny)
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