You deposit $5500 each year into an account earning 7% compounded annually. How much will you...
You deposit $5500 each year into an account earning 7% compounded annually. How much will you have in the account in 15 years? Round your answer to the nearest cent.
Homework Answers
We have to calculate future value of investment, it can be done using the excel function:
=FV(rate,time,pmt)
=FV(7%,15,-5500)
=138,209.62
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