Assume that you contribute $330 per month to a retirement plan for 15 years. Then you are able to increase the contribution to $530 per month for the next 25 years. Given an 8% interest rate. What is the value of your retirement plan after the 40 years? (Do not round intermediate calculations and round your final answer to 2 decimal places.) a)What is the value at end of first set of contributions ? b)What is the value at end of second set of contributions?
Assume that you contribute $330 per month to a retirement plan for 15 years. Then you are able to increase the contribution to $530 per month for the next 25 years. Given an 8% interest rate. What is the value of your retirement plan after the 40 years? (Do not round intermediate calculations and round your final answer to 2 decimal places.) a)What is the value at end of first set of contributions ? b)What is the value at end of second set of contributions?
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....
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Assume that you contribute $330 per month to a retirement plan for 15 years. Then you are able to increase the contribution to $530 per month for the next 25 years. Given an 8% interest rate. What is the value of your retirement plan after the 40 years? (Do not round intermediate calculations and round your final answer to 2 decimal places.)
a)What is the value at end of first set of contributions ?
b)What is the value at end of second set of contributions?
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