An engineer contributes $5,000 per year to her retirement account out of her year-end bonus. The interest rate is 8%, compounded annually. How much money will she have in the account after 35 years?
An engineer contributes $5,000 per year to her retirement account out of her year-end bonus. The interest rate is 8%, compounded annually. How much money will she have in the account after 35 years?
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter6: Saving And Investing
Section6.1: Why Save?
Problem 6R
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An engineer contributes $5,000 per year to her retirement account out of her year-end bonus. The interest rate is 8%, compounded annually. How much money will she have in the account after 35 years?
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