Question: Question 0 4 : Prince, aged 2 5 , spends around $ 2 0 0 per month on alcohol. His goodfriend Simran advised him to

Question

04

: Prince, aged

25,

spends around $

200

per month on alcohol. His goodfriend Simran advised him to stop wasting money on alcohol. She feels that Princeshould start saving money for the future. If Prince listens to her and starts investingthe $

200

saved every month from not drinking alcohol in an investment accountthat pays

6 %

interest compounded monthly, how much will he have in that accountwhen he turns

50 ?

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