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andrezito [222]
3 years ago
8

You put $300 at the end of each month in an investment plan that pays an apr of 7%. How much will you have after 18 years?

Mathematics
2 answers:
hodyreva [135]3 years ago
7 0
To solve this, write an equation.

300 is your starting balance, add this to your equation.

300

You get  7% more each year, but you can't multiply by 7% because that will make it decrease by 93%. You have at add 1 to 7%.

300(1.07)

Lastly, the 18 variable for the years.

300(1.07)^18

Solve the equation and get $1013.97968 or $1013.98
Aloiza [94]3 years ago
5 0

Answer:

$129,216.31; $64,800

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