You have just made your first $4,400 contribution to your retirement account. Assume you earn a return of 13 percent per year and make no additional contributions. a. What will your account be worth when you retire in 29 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What if you wait 10 years before contributing? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Future value for starting now b. Future value if waiting 10 years
You have just made your first $4,400 contribution to your retirement account. Assume you earn a return of 13 percent per year and make no additional contributions. a. What will your account be worth when you retire in 29 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What if you wait 10 years before contributing? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Future value for starting now b. Future value if waiting 10 years
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 have just made your first $4,400 contribution to your retirement account. Assume
you earn a return of 13 percent per year and make no additional contributions.
a. What will your account be worth when you retire in 29 years? (Do not round
intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
b. What if you wait 10 years before contributing? (Do not round intermediate
calculations and round your answer to 2 decimal places, e.g., 32.16.)
a. Future value for starting now
b. Future value if waiting 10 years
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