Ask your own question, for FREE!
Mathematics 19 Online
OpenStudy (anonymous):

Help please will fan and medal!! Kenneth started saving for retirement at age 40 with plans to retire at 70. He invested an average of $400 per month in various securities, with an average annual return of 7% adjusted for inflation. Assuming monthly compounding, how much has Kenneth saved at the started of retirement? . A. $487,988.40 B. $720,421.84 C. $37,784.31 D. $556,559.83

OpenStudy (flashp):

What do you think it is @killer_sweetness97

OpenStudy (anonymous):

p*((1+r/n)^nt-1)/(r/n) but first check with 1 year and verify the formula or variables

OpenStudy (anonymous):

or here .... t=30 and n=12 as it is monthly compounding

OpenStudy (anonymous):

it may be p=400 r=0.07 n=12 t=30 im not sure anymore

OpenStudy (anonymous):

I figured it out but thank you both it was A

Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!
Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!