asked 6.5k views
3 votes
Mr. Sparky puts away $250 from each monthly paycheck into an account that returns 7.89% annual interest compounded monthly for his retirement how much will Mr. Sparky have saved up in his account if he makes these deposits for 20 years?

asked
User Haruka
by
8.0k points

1 Answer

6 votes
250x20=5000
7.89%of 5000 is 394.5

your welcome and a half :)
answered
User Indubitablee
by
8.5k points
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