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Exercise C-2 (Algo) Calculate the future value of a single amount (LO C-2) You want to save for retirement. Assuming you are now 25 years
Exercise C-2 (Algo) Calculate the future value of a single amount (LO C-2) You want to save for retirement. Assuming you are now 25 years old and you want to retire at age 55 , you have 30 years to watch your investment grow. You decide to invest in the stock market, which has earned about 9% per year over the past 80 years and is expected to continue at this rate. You decide to invest $1,000 today. Required: How much do you expect to have in 30 years? (FV of $1, PV of $1, FVA of $1, and calculator. Round your answer to 2 decimal places.) (Use tables, Excel, or a financial
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