Howard has been contributing $1200 every three months to an investment plan that has consistently earned 3%
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Howard has been contributing $1200 every three months to an investment plan that has consistently earned 3% compounded quarterly. He did this for 4½ years until he lost his job unexpectedly and had to stop contributing to the plan during the 9 months he was unemployed. Once he secured a new job, he re-started his contributions, increasing them to $1500 every three months. If the rate of return on his investment is now 4.5% compounded quarterly, how much can Howard expect to have in his investment plan after contributing for another 10 years in his new job?
Related Book For
Financial Accounting Information For Decisions
ISBN: 978-0324672701
6th Edition
Authors: Robert w Ingram, Thomas L Albright
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