You are currently thinking about setting up a retirement fund. You want to deposit $4000 every year for 35 years with an annual increase of $750. At the end of the 35 years, how much will you have accumulated for your retirement? Consider an interest rate of 6%. O 478,720.87 158,649.68 O 1,401,173.87 309,753.46
You are currently thinking about setting up a retirement fund. You want to deposit $4000 every year for 35 years with an annual increase of $750. At the end of the 35 years, how much will you have accumulated for your retirement? Consider an interest rate of 6%. O 478,720.87 158,649.68 O 1,401,173.87 309,753.46
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:QUESTION 5
You are currently thinking about setting up a retirement fund. You want to deposit $4000 every year for 35 years with
an annual increase of $750. At the end of the 35 years, how much will you have accumulated for your retirement?
Consider an interest rate of 6%.
O 478,720.87
158,649.68
O 1,401,173.87
O 309,753.46
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