8. More Aggressive Investing. Cliff Wong, of Livonia, Michigan, wants to invest $4000 annually for his retirement
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8. More Aggressive Investing. Cliff Wong, of Livonia, Michigan, wants to invest $4000 annually for his retirement 30 years from now. He has a conservative investment philosophy and expects to earn a return of 3 percent in a tax-sheltered account. If he took a more aggressive investment approach and earned a return of 5 percent, how much more would Cliff accumulate?
Use Appendix A.3 or the Garman/Forgue companion website to solve for the answer.
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