assuming the economy has gotten better andthat the funds now have a return of 7.72% compounded monthly. Diane salary has risen now she can contribute $1000 a month. At the end of the next 15 yrs, how much is her account worth.
CTU - Steve, Wednesday, March 20, 2013 at 5:26pm
Assuming she actually does contribute 1000/month, then after 15 years she will have
1000((1+.0772/12)^(12*15)-1)/(.0772/12) = 337,581.42