You are 20 years old today. You plan to start saving for retirement on your 29th...
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You are 20 years old today. You plan to start saving for retirement on your 29th birthday in the amount of $6,531.82. You will save the same amount on that birthday plus future birthdays for a total of 23 deposits. Assume a rate of return of 7% compounded annually. How much will be in your account when you turn 65? Use the $ symbol and round to the nearest $000....no cents...uses commas). Hint... the last three numbers in your answer should be close to 000. You are 20 years old today. You plan to start saving for retirement on your 29th birthday in the amount of $6,531.82. You will save the same amount on that birthday plus future birthdays for a total of 23 deposits. Assume a rate of return of 7% compounded annually. How much will be in your account when you turn 65? Use the $ symbol and round to the nearest $000....no cents...uses commas). Hint... the last three numbers in your answer should be close to 000.
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Related Book For
Fundamentals of corporate finance
ISBN: 978-0470876442
2nd Edition
Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates
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