Question: Lets revisit Question 10 for a minute. We will use the same assumptions. Only in this case, we will assume John is age 40 and
Lets revisit Question 10 for a minute. We will use the same assumptions. Only in this case, we will assume John is age 40 and is checking his investment account statement with Fidelity on his retirement savings progress. Using the variables below, what will his account statement total be at age 40? (Note, understanding he is still on target to achieve the total results in Scenario #1. This scenario illustrates the investment balance at age 40.) Variables: Periods, N = 18 (Age 40 less Age 22 when he started) Starting Amount, PV = 0 Interest Rate (I/Y) = 10% Periodic Deposit (PMT) = 3000 a. $1,244,324 b. $534,699 c. $136,798 d. $732,441
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