Let’s continue with some more specifics :)Let’s pretend that at the age of twenty we start to invest in Index Funds which is pretty much “buying the entire stock market.” Think of it as a giant mutual fund.Let’s pretend that in our twenties we invest one hundred dollars a month into an index fund that pays us 8% APR compounded monthly. Let’s pretend that we make this a habit we do it for ten years.Then in our thirties we invest two hundred dollars a month. Let’s pretend that we make this a habit we do it for ten years.Then in our fourties we invest three hundred dollars a month. Let’s pretend that we make this a habit we do it for ten years.Then in our fifties we invest four hundred dollars a month. Let’s pretend that we make this a habit we do it for ten years.And finally, in our sixties we invest five hundred dollars a month. Let’s pretend that we make this a habit we do it for ten years. Use a Sheets or Excel document. Screenshot the appropriate support into this document and answer the questions in this document. OR use your algebra muscles as support if you would rather. 1. How much money did we invest in total? 2. How much money will we have in total at the end of all of our investing? 3. How much interest did we earn by investing in these index funds? Back Finance Millionaire.docxLet's pretend that at the age of twenty we start to invest in IndexFunds which is pretty much "buying the entire stock market."Think of it as a giant mutual fund.Let's pretend that in our twenties we invest one hundred dollarsa month into an index fund that pays us 8% APR compoundedmonthly. Let's pretend that we make this a habit we do it for tenyears.Then in our thirties we invest two hundred dollars a month. Let'spretend that we make this a habit we do it for ten years.Then in our fourties we invest three hundred dollars a month.Let's pretend that we make this a habit we do it for ten years.Then in our fifties we invest four hundred dollars a month. Let'spretend that we make this a habit we do it for ten years.And finally, in our sixties we invest five hundred dollars amonth. Let's pretend that we make this a habit we do it for tenyears.Use a Sheets or Excel document. Screenshot the appropriatesupport into this document and answer the questions in thisdocument. OR use your algebra muscles as support if you wouldrather.1. How much money did we invest in total?2. How much money will we have in total at the end of all ofour investing?3. How much interest did we earn by investing in these indexfunds?

Future Value: It is the value of an investment over a period of time at a future date and the…

Answered: 1. How much money did we invest in…

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter13: Investing In Mutual Funds, Etfs, And Real Estate

Section: Chapter Questions

Problem 7FPE

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Let’s continue with some more specifics :) Let’s pretend that at the age of twenty we start to invest in Index Funds which is pretty much “buying the entire stock market.” Think of it as a giant mutual fund. Let’s pretend that in our twenties we invest one hundred dollars a month into an index fund that pays us 8% APR compounded monthly. Let’s pretend that we make this a habit we do it for ten years. Then in our thirties we invest two hundred dollars a month. Let’s pretend that we make this a habit we do it for ten years. Then in our fourties we invest three hundred dollars a month. Let’s pretend that we make this a habit we do it for ten years. Then in our fifties we invest four hundred dollars a month. Let’s pretend that we make this a habit we do it for ten years. And finally, in our sixties we invest five hundred dollars a month. Let’s pretend that we make this a habit we do it for ten years. Use a Sheets or Excel document. Screenshot the appropriate support into this document and answer the questions in this document. OR use your algebra muscles as support if you would rather. 1. How much money did we invest in total? 2. How much money will we have in total at the end of all of our investing? 3. How much interest did we earn by investing in these index funds?

Back Finance Millionaire.docx
Let's pretend that at the age of twenty we start to invest in Index
Funds which is pretty much "buying the entire stock market."
Think of it as a giant mutual fund.
Let's pretend that in our twenties we invest one hundred dollars
a month into an index fund that pays us 8% APR compounded
monthly. Let's pretend that we make this a habit we do it for ten
years.
Then in our thirties we invest two hundred dollars a month. Let's
pretend that we make this a habit we do it for ten years.
Then in our fourties we invest three hundred dollars a month.
Let's pretend that we make this a habit we do it for ten years.
Then in our fifties we invest four hundred dollars a month. Let's
pretend that we make this a habit we do it for ten years.
And finally, in our sixties we invest five hundred dollars a
month. Let's pretend that we make this a habit we do it for ten
years.
Use a Sheets or Excel document. Screenshot the appropriate
support into this document and answer the questions in this
document. OR use your algebra muscles as support if you would
rather.
1. How much money did we invest in total?
2. How much money will we have in total at the end of all of
our investing?
3. How much interest did we earn by investing in these index
funds?

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