Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Math Posted 26 Jun 2018 My Price 4.00

savings plan

How to find the amount of money after a plan has began?

 

Suppose a recent college graduate's first job allows her to deposit $200 at the end of each month in a savings plan that earns 6%, compounded monthly. This savings plan continues for 11 years before new obligations make it impossible to continue. If the accrued amount remains in the plan for the next 15 years without deposits or withdrawals, how much money will be in the account 26 years after the plan began? (Round your answer to the nearest cent.) 

Answers

Maurice Tutor
(5)
Status NEW Posted 26 Jun 2018 08:06 PM My Price 4.00

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