When changing jobs mid-career, an investor transferred $69,700 from a 401-K plan into an Individual Retirement Account invested entirely into the S&P 500 ETF SPY. If there are 31 years left before the investor retires and if the SPY ETF has annual compound returns of 7.2% over that period, what will be the balance in the investor's account at retirement day.

Answer rating: 100% (QA)

To calculate the balance in the investors account at retirement day we can use the formu... View the full answer