Question

Three years ago, Mr. Yu had $140,000 in his account. In 15 years from today, he...

Three years ago, Mr. Yu had $140,000 in his account. In 15 years from today, he expects to have $400,000. If he expects to earn the same return each year from 3 years ago to 15 years from today, then how much does he expect to have in 2 years from today if his interest is compounded monthly?

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Answer #1

Value in 2 years from today $187,402.68 ($140,000*(1+0.49%)^60)

* Intermediate calculations were not rounded off

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