Math question for homework

Jul 22nd, 2015
Price: $5 USD

Question description

If x dollars is deposited every four weeks (13 times a year) into an account paying an annual interest rate r, expressed in decimal form then the amount An=[(1+r/13)13n-1 all divided by r/13] if a retirement account pays 8% annual interest, determine how much a 20 year old worker would have to deposit in this account every 4 weeks in order to have a million dollars at age 65

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(Top Tutor) Ankit P
School: UC Berkeley

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