Mathematics, 15.12.2020 06:10 ProAtWork7

Joe and Susan are both 40 years old and hope to have enough money saved to retire by the time they're 65. They deposit $6,000 each year into an account that pays 4% interest compounded annually. Use this information to complete the table.
Formula to Use
Account Balance in 20 years
Total Interest Earned
present value of an annuity
future value of a lump sum
future value of an annuity
$99,875
$112,253
$149,875
$249,875
$286,363

Answers: 3

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Joe and Susan are both 40 years old and hope to have enough money saved to retire by the time they'r...