Emily deposits $150 at the beginning of each quarter into an account earning 6.7% for 25...

Emily deposits $150 at the beginning of each quarter into an account earning 6.7% for 25 years. How much money will she have at the end of those 25 years?

Solutions

Expert Solution

this can be calculated by using excel.

the answer and the calculations are given as follows

At the end of 25th year the account will be having a balance of $29092.31

the calculations in the excel are given follows

the cell G1 refers to where the interest rate is entered. it has a $ sign because it should be constant all the time

jeff jeffy answered 1 year ago

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