You have just made your first $4,800 contribution to your retirement account. Assume you earn a return
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Question:
You have just made your first $4,800 contribution to your retirement account. Assume you earn a return of 11 percent per year and make no additional contributions. |
a. | What will your account be worth when you retire in 33 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
b. | What if you wait 10 years before contributing? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
Related Book For
Fundamentals of Corporate Finance
ISBN: 978-1260153590
12th edition
Authors: Stephen M. Ross, Randolph W Westerfield, Robert R. Dockson, Bradford D Jordan
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