If you invest $3,000 at the end of each year at 8% for 40 years, how...

Question

Question

Answer 1

Answer #1

Answer:

Present Value = $3,000

Interest Rate, r = 8%

Time, N = 40 years

Future Value = Present Value * (1+r)^n
Future Value = $3,000 * (1 +0.08)^40
Future Value = $3,000 * 21.7245
Future Value = $65,173.5

Answer 2

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