Your great uncle died and left you $125,000. Assuming you can get a constant rate of return

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Your great uncle died and left you $125,000. Assuming you can get a constant rate of return of 5%, how much will you have when you want to retire in 45 years if interest is compounded monthly?

How much of the interest is due to interest on interest (or due to compounding)

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Personal Finance Turning Money into Wealth

ISBN: 978-0134730363

8th edition

Authors: Arthur J. Keown

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Posted Date: Feb 26, 2024 04:31 AM

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Your great uncle died and left you $125,000. Assuming you can get a constant rate of return

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To calculate the future value of the 125000 investment after 45 years we can use the compou... View the full answer

Personal Finance Turning Money into Wealth

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