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What amount would a person have in a retirement account if he made annual deposits of $425 for 25 years earning 12 percent, compounded annually?

What amount would a person have in a retirement account if he made annual deposits of $425 for 25 years earning 12 percent, compounded annually?
asked 52.9k views
5 votes
What amount would a person have in a retirement account if he made annual deposits of $425 for 25 years earning 12 percent, compounded annually?

asked
User Mark Keane
by
8.0k points

2 Answers

5 votes

Answer:

$11475

Explanation:

0.12x25=3

25+3=27

27x425=11475

answered
User Khizar
by
8.6k points
0 votes

Answer:

Explanation:

23

answered
User Tatsuya
by
8.1k points
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