Question: You decide that you want to begin saving aggressively for retirement and you deposit $20,500 per year into your 401(k) for the next 40 years
You decide that you want to begin saving aggressively for retirement and you deposit $20,500 per year into your 401(k) for the next 40 years (each deposit is made at the end of each year). If you earn an average annual return of 7.2%, what will your account be worth at the end of 40 years? In the space below, please indicate what the following variables are (enter answers to four decimal places and be mindful as to whether the variable is a positive or negative number): 1. PV 2. FV 3. Rate % 4. Periods 5. Payment
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