Question

selon 1 Find the amount to which those monthly deposits of $958.00 will grow in twelve years at 6% p.a. compounded monthly 12 13 ed out of Select one: a. $ 241 128.97 23 24 Finish at a question Time left Ob. $ 231 128.97 OC. $ 251 128.97 od. $ 211 128.97 Oe. $ 221 128.97

Answer 1

Given that Periodic payment or Rent R= $958.00 number of payments n= 12 years 12 months n=14.4 internet Interest role 6% Pa compounded monthly i 0.005 6 (2)(100) . future value f = (1+i). -] R 144 - (1+0.005)-1 (958) 0.005 2.050 750g - 1 (958) = (210.150 163 )(953) 0.005 = 201323.85626) vor s 201323.66

Please check your options once again I checked the solution on MATLAB also and I got the same thing.

Monthly investment of $958 for 12 years at an annual interest rate of 6%, the future value would be $2,01,323.86

Cumulative Investment $1,37,952

Cumulative Interest $63,371. 86

Please comment here if you have any doubts.