Calculate what your investment will be worth if you invest $500 per month during your entire working lifetime (age 25 to 65 = 40 years). Specific directions are as follows:

1. Begin with $1,000 in your current investment.
2. Contribute $500 per month for the next 40 years.
3. Try three different rates of return (8%, 12%, and 15%).
4. How much is each investment worth after 40 years of investing?

1. 8% is worth

 

2. 12% is worth

 

3. 15% is worth

Answer rating: 100% (QA)

To calculate the future value of investments with different rates of return we can use the formula f... View the full answer