Question

A savings plan requires 48 deposits of $503 per month commencing today. If the interest rate...

A savings plan requires 48 deposits of $503 per month commencing today. If the interest rate is 8.1% p.a compounding monthly, the value of the investment plan in exactly 4 years from today will be closest to:

Select one:

a. $28593.92

b. $28402.21

c. $2453.79

d. $2269.93

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Answer #1

The Value of investment plan in exactly 4 years from today will be closed to $28593.92
Option A : $28,593.92
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