You have just made your first $5461 contribution to your retirement account. Assume you earn a return of 8.8 percent per year and make no additional contributions. What will your account be worth when you retire in 45 years
You have just made your first $5461 contribution to your retirement account. Assume you earn a return of 8.8 percent per year and make no additional contributions. What will your account be worth when you retire in 45 years
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 25P
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You have just made your first $5461 contribution to your retirement account. Assume you earn a return of 8.8 percent per year and make no additional contributions. What will your account be worth when you retire in 45 years?
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Simple interest is the amount of interest earned on saving or investing some particular amount. This is due to time value of money concept.
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