# This chart is the annuity due version of the (ordinary annuity) Cool Million chart described in Problem

## Question:

This chart is the annuity due version of the (ordinary annuity) Cool Million chart described in Problem 36 of Exercise 11.1. Go to the Student Edition on this textbook’s Web site. In Chapter 12, find “Cool Million (Due).”

Return to Problem 36 in Exercise 11.1 to review the features of the chart. Use the same initial planning assumptions in both the Cool Million chart and the Cool Million (Due) chart. How much sooner will you become a millionaire if your regular savings are invested at the beginning of each month instead of at the end of each month?

**Data From Problem 36 of Exercises 11.1:**

Enter data for an investment plan that will be reasonable for you after you gain full-time employment. Note that the “Expected rate of return” and the “Expected inflation rate” are both annually compounded rates. Click on the “Calculate” button to generate a new chart. The series ot blue bars show the growth of your investments. If you move your cursor over any bar, the numerical value (in $000s) will be displayed.

## Step by Step Answer:

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