Let P= $75, r=0.0054166, n= 40. In the future worth formula, F= P((1+r)^(n-1) -1) / r, it would yield a future worth of 3,247.16 at the age of 65. And the interest rate is I= (r^n-10)/(r-1). It yields an interest of 1.033
Answer:
6216
Step-by-step explanation:
This problem deals with exponential growth.
Final value: F
Present (initial) value: P
Rate of growth: r
Time in years = t



Answer: 6216