A 20-year-old student wants to save $3 a day retirement. Every day she places $3 in a dra the end of each year, she invests the accur savings ($1,095) in a brokerage account v expected annual return of 12%. If she keeps s this manner, how much will she have accumu agę 65?

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
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A 20-year-old student wants to save $3 a day for her
retirement. Every day she places $3 in a drawer. At
the end of each year, she invests the accumulated
savings ($1,095) in a brokerage account with an
expected annual return of 12%. If she keeps saving in
this manner, how much will she have accumulated at
age 65?
Transcribed Image Text:A 20-year-old student wants to save $3 a day for her retirement. Every day she places $3 in a drawer. At the end of each year, she invests the accumulated savings ($1,095) in a brokerage account with an expected annual return of 12%. If she keeps saving in this manner, how much will she have accumulated at age 65?
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