Sousan wants to save money for her retirement. She plans on putting $200 into an Annuity each month. She found an annuity that earns 3.5% compounded monthly. How much will she have in 25 years? How much will she have deposited? How much interest will she have earned?
Sousan wants to save money for her retirement. She plans on putting $200 into an Annuity each month. She found an annuity that earns 3.5% compounded monthly. How much will she have in 25 years? How much will she have deposited? How much interest will she have earned?
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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Sousan wants to save money for her retirement. She plans on putting $200 into an Annuity each month. She found an annuity that earns 3.5% compounded monthly.
How much will she have in 25 years?
How much will she have deposited?
How much interest will she have earned?
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