Money in the account after 25 years is calculated using the Fv function as follows:-
=FV(rate,nper,pmt)
=FV(6%/12,25*12,-350)
=242547.89
Where, |
rate is periodic rate, |
nper is number of periods, |
pmt is periodic payments |
If you deposit $350 each month into an individual retirement account (RA) earning 6% APR interest,...
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