Question: A full-time worker aged 30 invests $750 a month in a fund which has an average yearly return of 7.2 % compounded month ly. (a)
A full-time worker aged 30 invests $750 a month in a fund which has an average yearly return of 7.2 % compounded month ly. (a) The worker wants to estimate what they will have for retirement when they are 60 years old if the rate stays constant. Assume month ly compounding. (b) If the worker makes no further deposits and makes no withdrawals after age 60 , how much will they have for retirement at age 64 ? Question content area bottom Part 1 (a) How much money will the worker have in their fund when they are 60 years old? The worker will have $enter your response here in their fund when they are 60 years old.
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