Which of the following numbers is shown plotted on the number line ?
1 answer:
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9514 1404 393
Answer:
- =FV(4.5%/12,30*12,-150,0)
- $113,907.92
- $54,000
- $59,907.92
Step-by-step explanation:
We have used the formula shown in Go.ogle Sheets to give the results shown. (We presume Excel has a similar function.)
The result is that the future value of the investment is $113,907.92.
The amount deposited is ($150/mo)(12 mo/yr)(30 yr) = $54,000.
The interest earned is the difference: $113,907.92 -54,000 = $59,907.92.
