What is the accumulated (future) sum of monthly contributions of $500 invested at an average return...

90.2K

Verified Solution

Question

Finance

What is the accumulated (future) sum of monthly contributions of$500 invested at an average return of 5% p.a. over 30 years? Whatif the average return increases to 8% from the 16th year?

Answer & Explanation Solved by verified expert
3.8 Ratings (550 Votes)
    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students