How much will you have saved after 6 years by contributing 1200 at the end of each year if you expect to earn 11 % on the same i
nvestment
2 answers:
Answer:
2244.50
Step-by-step explanation:
A= P(1+r/n)^nt
A= 1200(1+(.11/1))^6
Answer:
you have saved $7332 after 6 years
Step-by-step explanation:
11% of 1200, 1200 x 0.11 = 132
initial investment after 6 years: 1200 x 6 = 7200
initial + earn: 7200 + 132 = 7332
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