Solved

Donnie Will Invest $4,000 at the Beginning of Every Year

Question 199

Multiple Choice

Donnie will invest $4,000 at the beginning of every year for the next 25 years. His money will earn 11% compounded annually. If he does not withdraw any of the money, how much should he have exactly seven years after he makes the last $4,000 investment?


A) $1,434,739
B) $950,161
C) $893,562
D) $507,995
E) $1,054,679

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents