Timothy is placing $500 into a retirement account at the end of each month at 7%. How much will the account after 35 years? Round to the nearest cent. Fill in the TI-84 calculator inputs and outputs below as you would in your calculator. Then write the answer with the correct units. Round any output to two decimal places (nearest cent). Only use the "$" in your final answer. N: (The final product, and not the parts) I%: PV: PMT: FV: Answer:
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Step 1
Since Timothy is contributing monthly for 35 years, and there are 12 months in a year, the total number of periods is 35 * 12 = 420. Show more…
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