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Future Value Calculation Bob likes tax advantaged saving and makes it a habit to make the maximum annual contribution to his Roth IRA of $6000.
Future Value Calculation
Bob likes tax advantaged saving and makes it a habit to make the maximum annual contribution to his Roth IRA of $6000. He wants to contribute $10000 annually but unfortunately the government isn't on board with that plan. He's not really sure when retirement is going to hit. He knows he'd like to work at his current company for at least 10 more years and could see himself staying in the workforce for at least 35 more years. He thinks he'll probably stop contributing to his Roth in 22 more years. As with the number of years he expects to work, Bob isn't really sure what rate of return is most likely for his investments. His best guess is 8% after adjusting for inflation. What Bob is sure about is the $98,231 current value of his Roth. He'd like to know what to expect the total value of his Roth to be when he is finished making contributions. Using Cell References calculate the value of his Roth when he finishes making contributions Future ValueStep by Step Solution
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