Elon is currently 20 years old and has $35,700. If he invests it in a mutual...
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Elon is currently 20 years old and has $35,700. If he invests it in a mutual fund that grows at 6.5% per year, how much money will he have when he retires at the age of 60, if no withdrawals are made from the account until retirement? Elon is currently 20 years old and has $35,700. If he invests it in a mutual fund that grows at 6.5% per year, how much money will he have when he retires at the age of 60, if no withdrawals are made from the account until retirement?
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Answer rating: 100% (QA)
Step 1 Calculate the yearly compound interest rate of the mutual fund 65 0... View the full answer
Related Book For
Personal Finance Turning Money into Wealth
ISBN: 978-0134730363
8th edition
Authors: Arthur J. Keown
Posted Date:
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