wu would like to start saving for retirement. Assuming you are now 20 years old and want to retire at age 60, you have 40 years to mtch your investment grow. You decide to invest in the stock market, which has earned about 12% per year over the past 80 years nd is expected to continue at this rate. You decide to invest $1,000 at the end of each year for the next 40 years. equired: Calculate how much your accumulated investment is expected to be in 40 years. Hote: Use tables, Excel, or a financial calculator. Round your answer to 2 decimal places. (FV of $1. PV of $1. EVA of $1, and PVA of 50 Accumulated investment amount
wu would like to start saving for retirement. Assuming you are now 20 years old and want to retire at age 60, you have 40 years to mtch your investment grow. You decide to invest in the stock market, which has earned about 12% per year over the past 80 years nd is expected to continue at this rate. You decide to invest $1,000 at the end of each year for the next 40 years. equired: Calculate how much your accumulated investment is expected to be in 40 years. Hote: Use tables, Excel, or a financial calculator. Round your answer to 2 decimal places. (FV of $1. PV of $1. EVA of $1, and PVA of 50 Accumulated investment amount
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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Transcribed Image Text:You would like to start saving for retirement. Assuming you are now 20 years old and want to retire at age 60, you have 40 years to
watch your investment grow. You decide to invest in the stock market, which has earned about 12% per year over the past 80 years
and is expected to continue at this rate. You decide to invest $1,000 at the end of each year for the next 40 years.
Required:
Calculate how much your accumulated investment is expected to be in 40 years.
Note: Use tables, Excel, or a financial calculator. Round your answer to 2 decimal places. (FV of $1. PV of $1. EVA of $1, and PVA of
$.D
Accumulated investment amount
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