Assume that at the end of each of the next 40 years, you put the same amount
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Assume that at the end of each of the next 40 years, you put the same amount in your retirement fund and earn the same interest rate each year. Show how the amount of money you have at retirement would change at different annual contribution levels (from $5,000 to $25,000) and with different annual interest rates (from 3 percent to 15 percent).
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To calculate the amount of money you would have at retirement we can use the future value formula FV PV x 1 rn where FV is the future value PV is the ...View the full answer
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Deepak Sharma
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Microsoft Excel Data Analysis And Business Modeling
ISBN: 9780137613663
7th Edition
Authors: Wayne Winston
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