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17. Your grandfather urged you to begin a habit of saving money early in your life. He suggested that you put $5 a day into
17. Your grandfather urged you to begin a habit of saving money early in your life. He suggested that you put $5 a day into an envelop. If you follow his advice, ah the end of the year you will have$1,825(365*$5). Your grandfather further suggested that you take that money at the end of the year and invest it in online brokerage mutual fund account that has an annual expected return of 8%. Now you are 18 years old. If you start following your grand father's advice today, and continue saving in this way the rest of your life, how much do you expect to have in the brokerage account when you are 65 years old? (Non-anonymous question )
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