isabeljones2099 isabeljones2099

14-07-2020
Business

contestada

How much can be accumulated for retirement if $4,000 is deposited annually, beginning 1 year from today, and the account earns 9% interest compounded annually for 40 years g

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hoodini2 hoodini2

14-07-2020

The equation formulated from this question:

4,000n • 1.09^n = value

Where n = number of years

(4,000 x 40) • 1.09^40 = $5,025,507~

~Hoodini, here to help.

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