Your 401(k) retirement account is currently worth $55,000. assuming no more contributions, what will your account be worth in 20 years at an annual rate of 10.5%?
n= i/y= pv= pmt= fv= p/y=

Your account is going to be worst $405,142.92

Step-by-step explanation:

This is a compound interest problem.

The compound interest formula is given by:

Where A is the amount of money, P is the principal(the initial sum of money), r is the interest rate(as a decimal value), n is the number of times that interest is compounded per unit t and t is the time the money is invested or borrowed for.

So, for this problem:

We want to find A

Your account is going to be worst $405,142.92

so what is the problem what are they asking you to solve

step-by-step explanation:

so what is the problem what are they asking you to solve