Question

If you invest $200 at the end of each month for five years and you earn 9% interest compounded monthly, how much will you have accumulated at the end of the fifth year?

Answer 1

Please go through the table show below

Payment	RD		Begin Balance	Interest	Enging Balance
1	$         200.00		$                  -	$                  -	$         200.00
2	$         200.00		$         200.00	$              1.50	$         401.50
3	$         200.00		$         401.50	$              3.01	$         604.51
4	$         200.00		$         604.51	$              4.53	$         809.05
5	$         200.00		$         809.05	$              6.07	$     1,015.11
6	$         200.00		$     1,015.11	$              7.61	$     1,222.73
7	$         200.00		$     1,222.73	$              9.17	$     1,431.90
8	$         200.00		$     1,431.90	$           10.74	$     1,642.64
9	$         200.00		$     1,642.64	$           12.32	$     1,854.96
10	$         200.00		$     1,854.96	$           13.91	$     2,068.87
11	$         200.00		$     2,068.87	$           15.52	$     2,284.38
12	$         200.00		$     2,284.38	$           17.13	$     2,501.52
13	$         200.00		$     2,501.52	$           18.76	$     2,720.28
14	$         200.00		$     2,720.28	$           20.40	$     2,940.68
15	$         200.00		$     2,940.68	$           22.06	$     3,162.74
16	$         200.00		$     3,162.74	$           23.72	$     3,386.46
17	$         200.00		$     3,386.46	$           25.40	$     3,611.85
18	$         200.00		$     3,611.85	$           27.09	$     3,838.94
19	$         200.00		$     3,838.94	$           28.79	$     4,067.74
20	$         200.00		$     4,067.74	$           30.51	$     4,298.24
21	$         200.00		$     4,298.24	$           32.24	$     4,530.48
22	$         200.00		$     4,530.48	$           33.98	$     4,764.46
23	$         200.00		$     4,764.46	$           35.73	$     5,000.19
24	$         200.00		$     5,000.19	$           37.50	$     5,237.69
25	$         200.00		$     5,237.69	$           39.28	$     5,476.98
26	$         200.00		$     5,476.98	$           41.08	$     5,718.05
27	$         200.00		$     5,718.05	$           42.89	$     5,960.94
28	$         200.00		$     5,960.94	$           44.71	$     6,205.65
29	$         200.00		$     6,205.65	$           46.54	$     6,452.19
30	$         200.00		$     6,452.19	$           48.39	$     6,700.58
31	$         200.00		$     6,700.58	$           50.25	$     6,950.83
32	$         200.00		$     6,950.83	$           52.13	$     7,202.97
33	$         200.00		$     7,202.97	$           54.02	$     7,456.99
34	$         200.00		$     7,456.99	$           55.93	$     7,712.92
35	$         200.00		$     7,712.92	$           57.85	$     7,970.76
36	$         200.00		$     7,970.76	$           59.78	$     8,230.54
37	$         200.00		$     8,230.54	$           61.73	$     8,492.27
38	$         200.00		$     8,492.27	$           63.69	$     8,755.96
39	$         200.00		$     8,755.96	$           65.67	$     9,021.63
40	$         200.00		$     9,021.63	$           67.66	$     9,289.30
41	$         200.00		$     9,289.30	$           69.67	$     9,558.97
42	$         200.00		$     9,558.97	$           71.69	$     9,830.66
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