Mr. Alphin plans to invest $350 at the end of each month in an account that pays an annual rate of 9%, compounded monthly. After how many months will the account be worth $50,000? Round your answer to two decimal places.
A) 192.52 months
B) 57.41 months
C) 222.83 months
D) 153.26 months
E) 97.46 months

Question

Mr. Alphin plans to invest $350 at the end of each month in an account that pays an annual rate of 9%, compounded monthly. After how many months will the account be worth $50,000? Round your answer to two decimal places. ​
A) 192.52 months
B) 57.41 months
C) 222.83 months
D) 153.26 months
E) 97.46 months

Quizplus · Accepted Answer

The Answer of Mr. Alphin plans to invest $350 at the end of each month in an account that pays an annual rate of 9%, compounded monthly. After how many months will the account be worth $50,000? Round your answer to two decimal places. ​
A) 192.52 months
B) 57.41 months
C) 222.83 months
D) 153.26 months
E) 97.46 months

Mr Alphin Plans to Invest $350 at the End of Each