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1 Checked Compounding 2 3 4 5 6 Amount invested today 257,000 7 Annual rate of return 8.8% 8. Years until maturity 20 19 10

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1 Checked Compounding 2 3 4 5 6 Amount invested today 257,000 7 Annual rate of return 8.8% 8. Years until maturity 20 19 10 You are thinking about retirement, and would like 11 to compute how much you will have some time in 12 the future. 13 14 Using the data from above, please compute future 15 amounts, and then answer these questions: 16 17 #1 How much MORE will you have if compounding is 18 monthly rather than annually? (not graded) 19 20 Sheet1 2

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