Formula: S = PMT [(1 + r)^n - 1)] / r
its annuity!
Question: Amy has decided to invest $500 each quarter into a retirement account that has annual earnings of 9.3%, compounded quarterly. If Amy continues her investment for 25 years, how much money will she have in the retirement account?
its annuity!
Question: Amy has decided to invest $500 each quarter into a retirement account that has annual earnings of 9.3%, compounded quarterly. If Amy continues her investment for 25 years, how much money will she have in the retirement account?