Assume you can earn 8.6% per year on your investments. a. If you invest $190,000 for retirement at age 30, how much will you have 35 years later for retireme b. If you wait until age 40 to invest the $190,000, how much will you have 25 years later for retiremen c. Why is the difference so large? a. If you invest $190,000 for retirement at age 30, how much will you have 35 years later for retiremen The future value is $ (Round to the nearest dollar)
Assume you can earn 8.6% per year on your investments. a. If you invest $190,000 for retirement at age 30, how much will you have 35 years later for retireme b. If you wait until age 40 to invest the $190,000, how much will you have 25 years later for retiremen c. Why is the difference so large? a. If you invest $190,000 for retirement at age 30, how much will you have 35 years later for retiremen The future value is $ (Round to the nearest dollar)
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 34P
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![Assume you can earn 8.6% per year on your investments.
a. If you invest $190,000 for retirement at age 30, how much will you have 35 years later for retirement?
b. If you wait until age 40 to invest the $190,000, how much will you have 25 years later for retirement?
c. Why is the difference so large?
***
a. If you invest $190,000 for retirement at age 30, how much will you have 35 years later for retirement?
The future value is $
(Round to the nearest dollar)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F045a8244-192b-480f-be1a-1c18909686a5%2F70d8537d-3253-4123-8157-d3c4487db589%2Fvvegxnd_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Assume you can earn 8.6% per year on your investments.
a. If you invest $190,000 for retirement at age 30, how much will you have 35 years later for retirement?
b. If you wait until age 40 to invest the $190,000, how much will you have 25 years later for retirement?
c. Why is the difference so large?
***
a. If you invest $190,000 for retirement at age 30, how much will you have 35 years later for retirement?
The future value is $
(Round to the nearest dollar)
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