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Future Value of Annuity

Business & Finance
Tutor: None Selected Time limit: 1 Day

The plan does average annual return of 11% lena is 40and plans to work to the age of 65. If she contributes $160 per month, how much will she have in her plan at retirement?

Oct 25th, 2014

Present value of payment of 160 per month for 300 months at the rate 0.11/12 is 16,324.65

Future value of this =16,324.65*(1+0.11/12)^300 =252181.33

Answer: $252,181.33 or $252,181

Oct 25th, 2014

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Oct 25th, 2014
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