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ortegaly000
08.01.2021 •
Business
if you invest $200 the end of each month over the next 20 years in a mutual fund that has a nominal annual rate of 12% how much will you get at the end of 20 years
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Ответ:
I will get $197,851 at the end of the 20 years.
Explanation:
Note: It is assumed the interest is compounded monthly
Use the following formula to calculate the amount to be received after 20 years
Future value of annuity = Annuity payment x ( ( ( 1 + periodic interest rate )^ Numbers of periods ) - 1 ) / periodic interest rate )
Where
Annuity Payment = $200 monthly
Periodic Interest rate = Nominal Interest rate / Numbers of periods in a year = 12% / 12 months = 1%
Numbers of periods = Numbers of years x Numbers of periods in a year = 20 years x 12 months = 240 months
Placing values in the formula
Future value of annuity = $200 x ( ( ( 1 + 1% )^240 ) - 1 ) / 1% )
Future value of annuity = $197,851.07
Future value of annuity = $197,851
Ответ:
A public in-state college charges less for in-state tuition than for out-of-state tuition.
Tara will most likely have to pay room and board expenses at an out-of-state public college, but might be able to commute to a public college in state.