Posted: December 23rd, 2022

**Future Value of Multiple Annuities** Assume that you contribute $200 per month to a retirement plan for 15 years. Then you are able to increase the contribution to $400 per month for another 25 years. Given a 5 percent interest rate, what is the value of your retirement plan after 40 years?

$72,479.86

$28,475.66

$24,159.95

$424,305.97

Place an order in 3 easy steps. Takes less than 5 mins.

N = 25 × 12 = 300, I = 5/12 = 0.4167, PV = 0, PMT = 200 (400 – 200), CPT FV = 119,101.94

Sum of FV = 424305.97