You plan to invest $1,826 at the end of each of the next 19 years. If the investment earns 6.5% annually, what is the investment worth at the end of the investment period?
Information provided:
Annual investment= $1,826
Time= 19 years
Interest rate= 6.5%
The question is solved by calculating the future value.
Enter the below in a financial calculator to compute the future value.
PMT= -1,826
N= 19
I/Y= 6.5
Press the CPT key and FV to compute the future value.
The value obtained is 64,853.53
Therefore, the investment will be worth $64,853.53 at the end of the investment period.
In case of any query, kindly comment on the solution.
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