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You invest $11,000 in your retirement account each year (at the end of the year) for...

You invest $11,000 in your retirement account each year (at the end of the year) for 30 years. If the stock market/investment yields 7%, how much is in the retirement account after 30 years?
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Answer #1

Yearly investments = $11,000

Interest Rate = 7%

Since Investment is at the end of Year,

Future Value = 11000 * (1+.07)^(29) + 11000 * (1+.07)^(28) + 11000 * (1+.07)^(27) + 11000 * (1+.07)^(26) + 11000 * (1+.07)^(25) + 11000 * (1+.07)^(24) + 11000 * (1+.07)^(23) + 11000 * (1+.07)^(22) + 11000 * (1+.07)^(21) + 11000 * (1+.07)^(20) +11000 * (1+.07)^(19) + 11000 * (1+.07)^(18) + 11000 * (1+.07)^(17) + 11000 * (1+.07)^(16) + 11000 * (1+.07)^(15) + 11000 * (1+.07)^(14) + 11000 * (1+.07)^(13) + 11000 * (1+.07)^(12) + 11000 * (1+.07)^(11) + 11000 * (1+.07)^(10) + 11000 * (1+.07)^(9) + 11000 * (1+.07)^(8) +11000 * (1+.07)^(7) +11000 * (1+.07)^(6) + 11000 * (1+.07)^(5) + 11000 * (1+.07)^(4) + 11000 * (1+.07)^(3) + 11000 * (1+.07)^(2) + 11000 * (1+.07)+ 11000

Future Value = $1039068.65      

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