20 years at 11% interest compounded annually? How much will it be worth in 30 years? What about at 40 years? How much will it be worth in 50 years? (Please use the following provided Table.) (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Future value after 20 years Future value after 30 years Future value after 40 years Future value after 50 years
20 years at 11% interest compounded annually? How much will it be worth in 30 years? What about at 40 years? How much will it be worth in 50 years? (Please use the following provided Table.) (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Future value after 20 years Future value after 30 years Future value after 40 years Future value after 50 years
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Financial analysts recommend investing 15% to 20% of your annual income in your retirement fund to reach a replacement rate of 70%
of your income by age 65. This recommendation increases to almost 30% if you start investing at 45 years old. Mallori Rouse is 25
years old and has started investing $3,600 at the end of each year in her retirement account. How much will her account be worth in
20 years at 11% interest compounded annually? How much will it be worth in 30 years? What about at 40 years? How much will it be
worth in 50 years? (Please use the following provided Table.) (Do not round intermediate calculations. Round your answers to the
nearest whole dollar amount.)
Future value after 20 years
Future value after 30 years
Future value after 40 years
Future value after 50 years
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