You deposit $60 at the end of each month into an annuity with 7.5% interest compounded monthly. What will be the value of the annuity after 35 years? Do not round until the final answer. Then round to the nearest dollar as needed.

Question

anonymous · Answer

i think  ->  60 ((1+0.075/12)^420-1)/(0.075/12)

anonymous · Answer

^420 :O

anonymous · Answer

yea, i'm using the formula on this site http://www.math.hawaii.edu/~hile/math100/conse.htm

anonymous · Answer

if dats d formula, then answer s $121824

anonymous · Answer

121846 can you guys check if it's the right answer (I rounded to the  nearest dollar )

anonymous · Answer

me too got d same yaar :)

anonymous · Answer

thank u for d link nphuongsun93 :)

anonymous · Answer

you re welcome