Question

You want to quit your job and go back to school for a law degree 4 years from now, and you plan to save $3,500 per year, beginning immediately. you will make 4 deposits in an account that pays 5.7% interest. under these assumptions, how much will you have 4 years from today

Answer 1

Hi !

You plan to save $3,500

It pays +5.7% each year.

After 4 years, you will have : $3,500\times1,057^4\approx \ 4,369$