Suppose Joan deposits 400 every month for 25 years into an IRA earning 12 percent compounded monthly. What would be the future value of this annuity?
Suppose Joan deposits 400 every month for 25 years into an IRA earning 12 percent compounded monthly. What would be the future value of this annuity?
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money
Section: Chapter Questions
Problem 9.17E
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Suppose Joan deposits 400 every month for 25 years into an IRA earning 12 percent compounded monthly. What would be the future value of this annuity ?
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