karkarntx
21.05.2020 •
Mathematics
Your friend is investing in a 401(k) that promises 2% annual growth. He plans on investing $250 each month for 25 years. Excel returns a value of $97,205.28 for the balance in the 401(k) after 25 years. How much interest is earned in the account after 30 years?
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Ответ:
$33181.35
Step-by-step explanation:
The first to do would to calculate the balance in the investment account after 30 years.
=fv(rate,nper,pmt,-pv)
rate is the rate of return per month which is 2%/12
nper is 30 years multiplied by 12
pmt is the periodic payment in the investment account of $250
pv is the current balance is shown as zero
=fv(2%/12,30*12,250,0)=$123,181.35
Total interest is the balance in the account after 30 years minus amount invested.
total interest=$123,181.35-($250*12*30)
=$123,181.35-$90,000.00=$33181.35
Ответ:
The 2nd one
Step-by-step explanation:
Just took the test!!! Hope this helps :*)