Two buddies, Qwerty and Ashton, finished their school and training and entered the workforce, both, at...
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Two buddies, Qwerty and Ashton, finished their school and training and entered the workforce, both, at the age of 20. Ashton started to save $300/month or $3600 a year at 9.60% interest per annum compounded yearly until at the age of 26 he had his money amounting to $36,975.67. At that time he stopped putting any money into it, but just left the money there, to work for him ad accrue interest until the end of the year he turned 62. He invested for only 7 years. Exercise 2: What is Ashton's total equal to after 36 years? Please show your work below. Work: Meanwhile Qwerty invested nothing from the age of 20 to 26, as he wanted a hot car, a great social life, and dream vacations each year. Talking to Qwerty, he realized that he should start investing too. He started putting in $280 a month, at 9.60% interest compounded yearly until the age of 62. Over those 36 years his money grew to $1,001,700.37 in total. Exercise 3: Did he catch Ashton's total, and how much did each person invest? Please show your work below. Work: Answer: 1X83 62 Two buddies, Qwerty and Ashton, finished their school and training and entered the workforce, both, at the age of 20. Ashton started to save $300/month or $3600 a year at 9.60% interest per annum compounded yearly until at the age of 26 he had his money amounting to $36,975.67. At that time he stopped putting any money into it, but just left the money there, to work for him ad accrue interest until the end of the year he turned 62. He invested for only 7 years. Exercise 2: What is Ashton's total equal to after 36 years? Please show your work below. Work: Meanwhile Qwerty invested nothing from the age of 20 to 26, as he wanted a hot car, a great social life, and dream vacations each year. Talking to Qwerty, he realized that he should start investing too. He started putting in $280 a month, at 9.60% interest compounded yearly until the age of 62. Over those 36 years his money grew to $1,001,700.37 in total. Exercise 3: Did he catch Ashton's total, and how much did each person invest? Please show your work below. Work: Answer: 1X83 62
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Related Book For
Managerial Accounting
ISBN: 9780073526706
12th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
Posted Date:
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