Let's say Luke inherited $9,000 dollars from an uncle when he was 10 years old and it
Fantastic news! We've Found the answer you've been seeking!
Question:
Let's say Luke inherited $9,000 dollars from an uncle when he was 10 years old and it was deposited in a stock market fund at that time. The account was turned over to him when he was 29 years old. Assume that the stock market fund increases an average of 5% a year.
If, when Luke turns 29, he decides to leave the money in the account to save for a down payment on a house, how old will he be when he has $35,000 in the account?
Related Book For
South Western Federal Taxation 2015
ISBN: 9781305310810
38th Edition
Authors: William H. Hoffman, William A. Raabe, David M. Maloney, James C. Young
Posted Date: