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You are planning to invest $5,000 in an account earning 5% per year for retirement. a. If you put the $5,000 in an account at age 23, and withdraw it 30 years later, how much will you have? b. If you wait 10 years before making the deposit, so that it stays in the account for only 20 years, how much will you have a a. If you put the $5,000 in an account at age 23, and withdraw it 30 years later, how much will you have? In 30 years you would have (Round to the nearest cent.)

You are planning to invest $5,000 in an account earning 5% per year for retirement. a. If you put the $5,000 in an account at age 23, and withdraw it 30 years later, how much will you have? b. If you wait 10 years before making the deposit, so that it stays in the account for only 20 years, how much will you have a a. If you put the $5,000 in an account at age 23, and withdraw it 30 years later, how much will you have? In 30 years you would have (Round to the nearest cent.)

Essentials Of Investments
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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You are planning to invest $5,000 in an account earning 5% per year for retirement. a. If you put the $5,000 in an account at age 23, and withdraw it 30 years later, how much will you have? b. If you wait 10 years before making the deposit, so that it stays in the account for only 20 years, how much will you have at the end? ··· a. If you put the $5,000 in an account at age 23, and withdraw it 30 years later, how much will you have? In 30 years you would have $ (Round to the nearest cent.)
Transcribed Image Text:You are planning to invest $5,000 in an account earning 5% per year for retirement. a. If you put the $5,000 in an account at age 23, and withdraw it 30 years later, how much will you have? b. If you wait 10 years before making the deposit, so that it stays in the account for only 20 years, how much will you have at the end? ··· a. If you put the $5,000 in an account at age 23, and withdraw it 30 years later, how much will you have? In 30 years you would have $ (Round to the nearest cent.)
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