You are planning to make annual deposits of $5,970 into a retirement account that pays 10 percent interest compounded monthly. How large will your account balance be in 20 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

You are planning to make annual deposits of $5,970 into a retirement account that pays 10 percent interest compounded monthly. How large will your account balance be in 20 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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You are planning to make annual deposits of $5,970 into a retirement account
that pays 10 percent interest compounded monthly. How large will your
account balance be in 20 years? (Do not round intermediate calculations and
round your answer to 2 decimal places, e.g., 32.16.)
Future value
:X
This is a numeric cell, so please
enter numbers only.

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