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Small John Tang

Budget: $15

Solved!

To save for your investment, you decide to invest $200 at the end of each quarter for the next 30 years. Suppose that the investments grow at an annual interest rate equal to 12% compounded quarterly. What will be the future value of the investments at the end of 30 years?

Answer

Small Tutor Amanda Afi

The formula to be used here is F = P(1+r/n)^nt. In this case, the principal amoun...