If the student purchases a $1000 Roth IRA when he is 25 years old and expects to earn an average of 10% per year compounded annually over 35 years (until he is 60), how much will accumulate in the investment?
If the student purchases a $1000 Roth IRA when he is 25 years old and expects to earn an average of 10% per year compounded annually over 35 years (until he is 60), how much will accumulate in the investment?
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 16P
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Question
. If the student purchases a
$1000
Roth IRA when he is 25 years old and expects to earn an average of
10%
per year compounded annually over 35 years (until he is 60), how much will accumulate in the investment?
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