Suppose you make $1000 contribution to your retirement account annually. Assume you earn a 5 percent annual rate of return for money in the account. How much more will your account be worth when you retire in 30 years than it would be if you waited another 10 years before starting to make contribution?

Answer rating: 100% (QA)

To calculate the difference in the account value when you retire in 30 years compared to waiting ano... View the full answer