I usually use the finance feature of my calculator. I would input PMT = 150, n = 120, i = 4.25/12, and then click compute on FV option.
Hi, I have been working on this problem for some time now and need a guidance.
How much would u have after investing $150 every month for ten years in an account that pays 4.25% compounded monthly.
So i know the following information
0.0425/ 12 - 0.0035
interest paid 120 times
I am awaure of the formula, Sn = A (r^n-1) / 1-r but it my result does not seem to make sense.