You have $15,000 that you want to invest. You expect your investment to yield 7% annual growth (compounded monthly) over the long term. In addition to your up-front investment, you want to invest another $250/month into that investment. How much will your investment be worth in 20 years? $130,232 $190,812 $204,753 $181,032
You have $15,000 that you want to invest. You expect your investment to yield 7% annual growth (compounded monthly) over the long term. In addition to your up-front investment, you want to invest another $250/month into that investment. How much will your investment be worth in 20 years? $130,232 $190,812 $204,753 $181,032
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 27P
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You have $15,000 that you want to invest. You expect your investment to yield 7% annual growth (compounded monthly) over the long term. In addition to your up-front investment, you want to invest another $250/month into that investment. How much will your investment be worth in 20 years?
$130,232
$190,812
$204,753
$181,032
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