Seamus McIntyre started saving for retirement today by investing $509 in an account earning 0.0855. He...

Seamus McIntyre started saving for retirement today by investing $509 in an account earning 0.0855. He plans to continue with monthly contributions of the same amount for 24 years. The present value of his investment is:

Expert Solution

Ans $ 62636.44

Annuity PV Due (Beginning)=	P + ( P [ 1 - ( 1 + r )^-(n-1) ] / r )


	509 + 509 * ( 1 - ((1 / (1 + 8.55%/12)^(288-1))))/ (8.55%/12)


	62636.44

jeff jeffy answered 2 years ago

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