You plan to deposit $25 in a bank every month at 5% interest, with the first...

You plan to deposit $25 in a bank every month at 5% interest, with the first payment made on your 18^thbirthday and kept in the account for 5 years, your 23^rd birthday, along with additional payments every month of $25. You will not make a payment on your 23^rd birthday. Use Excel to make show how much you will have at the end of each month. How much will you have on your 23^rd birthday?

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Expert Solution

how much will you have on your 23^rd birthday? $1707.24

Please upvote if answer is correct

jeff jeffy answered 1 year ago

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