Suppose you save for retirement by contributing the same amount each month from your 23rd birthday until your 65th birthday, in a account that pays 5% annually compounded monthly
A) how much will be in you fund if you save $100 a month?
b) how much will be in your fund if get a steady rate of 7.5% compounded monthly?
c) How much will be in your fund if you get a steady rate of 10% compounded monthly?
how would i go about solving this?
A) how much will be in you fund if you save $100 a month?
b) how much will be in your fund if get a steady rate of 7.5% compounded monthly?
c) How much will be in your fund if you get a steady rate of 10% compounded monthly?
how would i go about solving this?