Question 5 2pts You are due to retire in 40 years. You decide to invest $ 1,000 every year into a savings account paying 3% compound interest. Assuming the first $ 1,000 is invested in one year's time, how much money (rounded to the nearest $ 10) would you have in the savings account when you retire? A) $23,110 B $73,230 C $ 75,400 D) $32,620
Question 5 2pts You are due to retire in 40 years. You decide to invest $ 1,000 every year into a savings account paying 3% compound interest. Assuming the first $ 1,000 is invested in one year's time, how much money (rounded to the nearest $ 10) would you have in the savings account when you retire? A) $23,110 B $73,230 C $ 75,400 D) $32,620
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
Section: Chapter Questions
Problem 1PS
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Question 5
2pts
You are due to retire in 40 years. You decide to invest $ 1,000 every year into a savings account paying 3% compound interest . Assuming the first $ 1,000 is invested in one year's time, how much money (rounded to the nearest $ 10) would you have in the savings account when you retire?
A) $23,110
B $73,230
C $ 75,400
D) $32,620
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