E2. A 41-year-old consulting engineer wants to set up a retirement fund to be used starting at age 65. $20,000 is invested now at 6% compounded annually. Approximately how much money will be in the fund at retirement?

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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E2. A 41-year-old consulting engineer wants to set up a retirement fund to be used starting at age 65. $20,000 is
invested now at 6% compounded annually. Approximately how much money will be in the fund at retirement?
Transcribed Image Text:E2. A 41-year-old consulting engineer wants to set up a retirement fund to be used starting at age 65. $20,000 is invested now at 6% compounded annually. Approximately how much money will be in the fund at retirement?
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