Jackie & her husband started a savings account for their twin daughters when they were 2 years old.They have been saving $100,000 a year at an interest rate of 10%,and intend on keeping up with their annual contribution to the fund until the girls are 21.What is the future value of their investment?

Question

Quizplus · Accepted Answer

C) PV= (100,000/0.1)(1 - [1/(1.01¹⁹)]) = $836,492.01
FV= ($836,492.01)(1.1¹⁹) = $5,115,909.05

Jackie & Her Husband Started a Savings Account for Their