Future Value of an Ordinary Annuity:
FVA = PMT [(1 + i)n -1]/i
FVA is: 75 [(1 + 0.005416)12 * 38 = 456 ]/0.005416
FVA is: $148,780.09 (regular calculator); for HP12-C: $149,567.57
Arzoo I.
asked • 12/19/17Annuity question
Jason is 25 yrs has started working full time. He has started to put money aside for his retirement at age 63.he has calculated that he can afford $75 a month in an account that earns 6.5% compounded monthly.
How much will he have when he retires?
How much will he have when he retires?
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