Assume that you contribute $150 per month to a retirement plan for 20 years. Then you can increase the contribution to $250 per month for another 20 years, and finally, $400 per month for the last 10 years. Given a 7 percent interest rate, what is the value of your retirement plan after the 50 years? Note: Do not round intermediate calculations and round your final answer to 2 decimal places. Value of retirement assets

Assume that you contribute $150 per month to a retirement plan for 20 years. Then you can increase the contribution to $250 per month for another 20 years, and finally, $400 per month for the last 10 years. Given a 7 percent interest rate, what is the value of your retirement plan after the 50 years? Note: Do not round intermediate calculations and round your final answer to 2 decimal places. Value of retirement assets

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 44P

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