How much will he have collected when he retires on birthday

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Reference no: EM131962992

Solve Using Excel Lee would like to retire on his 66th birthday. On his 40th birthday he opens a money market account with $4,000 which earns him 4.5% per year. He thinks he can deposit $8,000 on his 41st birthday, and keep increasing this amount by 4.0% till his 60th birthday, which is his last deposit into the account. How much will he have collected when he retires on his 66th birthday?

Reference no: EM131962992

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