Calculate what your investment will be worth if you invest $500 per month during your entire working
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Question:
Calculate what your investment will be worth if you invest $500 per month during your entire working lifetime (age 25 to 65 = 40 years). Specific directions are as follows:
- Begin with $1,000 in your current investment.
- Contribute $500 per month for the next 40 years.
- Try three different rates of return (8%, 12%, and 15%).
- How much is each investment worth after 40 years of investing?
1. 8% is worth
2. 12% is worth
3. 15% is worth
Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
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