You are now 20 years of age and decide to save $100 at the end of each month until you are 65. If the interest rate is 9.2%, how much money will you have when you are 65?

Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
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Chapter3: Math Models
Section: Chapter Questions
Problem 430PT: Melinda deposited $5,985 in a bank account with an interest rate of 1.9%. How much interest was...
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You are now 20 years of age and decide to save
$100 at the end of each month until you are 65.
If the interest rate is 9.2%, how much money
will you have when you are 65?
 
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743,102
800,347
806,076
821,204
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