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Laura is planning for her retirement 34 years from now. She plans to invest $4,100 per year for the first 7 years, $8,600 per year for the next 11 years, and $13,700 per year for the remaining 16 years. All of the investments will be made at the end of the year. If Laura can earn 10% annual return on her investments, what will her retirement fund amount to at the end of 34 years? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 2 decimal places, eg. 458,581.25.) Click here to view factor tables Amount of retirement fund $

Laura is planning for her retirement 34 years from now. She plans to invest $4,100 per year for the first 7 years, $8,600 per year for the next 11 years, and $13,700 per year for the remaining 16 years. All of the investments will be made at the end of the year. If Laura can earn 10% annual return on her investments, what will her retirement fund amount to at the end of 34 years? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 2 decimal places, eg. 458,581.25.) Click here to view factor tables Amount of retirement fund $

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Laura is planning for her retirement 34 years from now. She plans to invest $4,100 per year for the first 7 years, $8,600 per year for the next 11 years, and $13,700 per year for the remaining 16 years. All of the investments will be made at the end of the year. If Laura can earn 10% annual return on her investments, what will her retirement fund amount to at the end of 34 years? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 2 decimal places, eg. 458,581.25.) Click here to view factor tables Amount of retirement fund $
Transcribed Image Text:Laura is planning for her retirement 34 years from now. She plans to invest $4,100 per year for the first 7 years, $8,600 per year for the next 11 years, and $13,700 per year for the remaining 16 years. All of the investments will be made at the end of the year. If Laura can earn 10% annual return on her investments, what will her retirement fund amount to at the end of 34 years? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 2 decimal places, eg. 458,581.25.) Click here to view factor tables Amount of retirement fund $
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