3 years ago

4 pts

Mathematics

1 answer:

lubasha [3.4K]3 years ago

5 0

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.

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