Question

Amy contributes $50 per month into the Lincoln National Bond Fund that earns 7.26% annual interest.What is the value of Amy’s investment after 25 years?

Answer 1

Answer:

Inc Interest : $16,089

Step-by-step explanation:

1. Let's turn $50 a month into a year, so 50 * 12 = $600

2. Including the annual interest, which is $43.56 out of the $600

3. Add them together, which will be 43.56 + 600 = 643.56

4. Multiply it by 25 to get the full 25 years and you're done!