Question: A full-time worker aged 35 invests $250 a month in a fund which has an average yearly return of 6.0% compounded monthly (a) The worker
A full-time worker aged 35 invests $250 a month in a fund which has an average yearly return of 6.0% compounded monthly (a) The worker wants to estimate what they will have for retirement when they are 60 years old of the rate stays constant. Assume monthly 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 657 (a) How much money will the worker have in their fund when they are 60 years old? The worker will have $ in their fund when they are 60 years old. (Round to the nearest cont as needed.) (b) it the worker makes no further deposits and makes no withdrawals after age 60, how much will they have for retirement at age ? The worker will have in their fund. (Round to the nearest cent as needed.)
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