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After consulting with your financial advisor, you figured that you need to invest $15,000 per year to accumulate enough money for your retirement. Assuming a
After consulting with your financial advisor, you figured that you need to invest $15,000 per year to accumulate enough money for your retirement. Assuming a rate of return of 6% and depositing $15,000 at the beginning of every year in your retirement account, how much will you have after 35 years?
Please show your work.
b. $1,771,813
d. $534,246
a. $115,291
c. $1,671,522
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