business math
posted by sharon .
if I deposited $625 in a retirement account per month and it had a return of 3.84% a year compounded monthly. How much will I have in my account in 15 years?

625(1+.0384/12)^(12*15) = 1110.80
Respond to this Question
Similar Questions

Finance
1. A man establishes an annuity for retirement by depositing $50,000 into an account that pays 7.2% compounded monthly. Equal monthly withdrawals will be made each month for 5 years, at which time the account will have a zero balance. … 
Finance
You are planning to save for retirement over the next 35 years. To do this, you will invest $770 a month in a stock account and $370 a month in a bond account. The return of the stock account is expected to be 9.7 percent, and the … 
ctu
Diane works at a public university. She contributes $625 at the end of each month to her retirement fund. For the past 10 years, this fund has returned 3.84% a year, compounded monthly. a. Assuming the 3.84% rate continues, how much … 
math
diane works at a public university and contributes $625 per month in her retirement fund. the fund returns 3.84% a year, compounded monthly. how much will she have in her account after 15 years. b. the economy gets better and the return … 
Algebra business
Diane contributes $625 at the end of each month to retirement fund. For the past 10 years this fund has earned 3.84% a year. Compounded monthly, assuming the 3.84% rates continue, how much will she have in her retirement account after … 
Finite Math and Applied Calculus
Betty Sue sets up a retirement account. For the first 35 years, she deposits $500 at the end of each month into an account with an annual interest rate of 3.6%, compounded monthly. Then, she stops making monthly payments and transfers … 
Finance
You are planning to save for retirement over the next 15 years. To do this, you will invest $1,100 a month in a stock account and $500 a month in a bond account. The return on the stock account is expected to be 7%, and the bond account … 
Finance
You are planning to save for retirement over the next 15 years. To do this, you will invest $1,100 a month in a stock account and $500 a month in a bond account. The return on the stock account is expected to be 7%, and the bond account … 
Math / Finance
You are planning to save for retirement over the next 15 years. To do this, you will invest $1,100 a month in a stock account and $500 a month in a bond account. The return on the stock account is expected to be 7%, and the bond account … 
finance
Find the final amount in the following retirement account, in which the rate of return on the account and the regular contribution change over time. $470 per month invested at 5%, compounded monthly, for 7 years; then $709 per month …