Question
Assume your 401(k) retirement account, on average, earns 5.5% annual interest. Using the Rule of 70, calculate approximately how long does it take for your
Assume your 401(k) retirement account, on average, earns 5.5% annual interest. Using the Rule of 70, calculate approximately how long does it take for your balance to double?Round to the nearest tenth.
If your balance starts out at $2,500, approximately how much would it be worth in 25years?Round to the nearest dollar.
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An Introduction to the Mathematics of Financial Derivatives
Authors: Ali Hirsa, Salih N. Neftci
3rd edition
012384682X, 978-0123846822
