How do you calculate the total sum from an investment stream?
Mr. Green wishes to invest $150 per month in a bank that will pay him interest monthly. The annual percentage interest rate offered by the bank for investment streams is 8.4%.
If Mr. Green invests $150 each month for the next ten years, how much money will he have in the bank at the end of then years?
Would appreciate an explanation rather than just a figure as I can’t seem to be able to get the formula quite right. Thanks!
If Mr. Green invests $150 each month for the next ten years, how much money will he have in the bank at the end of then years?
Would appreciate an explanation rather than just a figure as I can’t seem to be able to get the formula quite right. Thanks!
By: alexandra
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Filed under Investing by on Jul 21st, 2010. 