Johan recently received his annual performance bonus from his employer. He has set up an investment savings plan to which he will contribute $2000 each year from his bonus and $400 per month from his regular salary. Johan will make his initial contributions of $2000 and $400 today. Rounded to the nearest dollar.
a) what will the plan be worth after 25 years if it earns 7.5% compounded monthly?
b) how much did Johan's contributions earn during the 25 years?

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The Answer of Johan recently received his annual performance bonus from his employer. He has set up an investment savings plan to which he will contribute $2000 each year from his bonus and $400 per month from his regular salary. Johan will make his initial contributions of $2000 and $400 today. Rounded to the nearest dollar.
a) what will the plan be worth after 25 years if it earns 7.5% compounded monthly?
b) how much did Johan's contributions earn during the 25 years?

Johan Recently Received His Annual Performance Bonus from His Employer