=+a. Vern quickly does some math to see how much money hell have one year from now,
Question:
=+a. Vern quickly does some math to see how much money he’ll have one year from now, five years from now, 10 years from now, and 25 years from now assuming he never makes withdrawals. He doesn’t know much about compounding, so he just guesses that if he leaves the money in for 1 year, he’ll have 10% more; if he leaves it in five years at 10% per year he’ll have 50% more; if he leaves it in for 10 years he’ll have 100% more and if he leaves it in for 25 years he’ll have 250% more. How much does he expect to have at these different times in the future?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Microeconomics An Intuitive Approach With Calculus
ISBN: 9781337335652,9781337027632
2nd Edition
Authors: Thomas Nechyba
Question Posted: