Question

Farah Tish sends a cheque to their child,Linnie, in the amount of $11,040.00 every day for...

Farah Tish sends a cheque to their child,Linnie, in the amount of $11,040.00 every day for 10 years how much is this investment worth at the end of 10 years? Assume an interest rate of 1.00%.

a. $42,379,063.11

b. $115,502.83

c. $38,346,214.57

d. $104,563.20

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Answer #1

a. $42,379,063.11

Please refer to below spreadsheet for calculation and answer. Cell reference also provided.

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