Jack starts to save at age 40 for a vacation home that he wants to buy for his 50th birthday. He will contribute $1000 each quarter to an account, which earns 2.1% interest, compounded annually. What is the future value of this investment, rounded to the nearest dollar, when Jack is ready to purchase the vacation home?
$11,000
$11,231
$44,000
$44,924

Question

Jack starts to save at age 40 for a vacation home that he wants to buy for his 50th birthday. He will contribute $1000 each quarter to an account, which earns 2.1% interest, compounded annually. What is the future value of this investment, rounded to the nearest dollar, when Jack is ready to purchase the vacation home?
$11,000
$11,231
$44,000
$44,924

anonymous · Answer

Hey man this is history. I like math, but please ask in the math place.