Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If I put $2,000 in a mutual fund at age 20 for ten years and stop, and then hold until 75. how much will I

If I put $2,000 in a mutual fund at age 20 for ten years and stop, and then hold until 75. how much will I have if I expect a return of 8.1%. What if I wait til age 30 and put $3,000 every year in the bank and save until age 75, with the same rate. Will I have more or less?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Currency Wars Offense And Defense Through Systemic Thinking

Authors: Jeffrey Yi-Lin Forrest , Yirong Ying , Zaiwu Gong

1st Edition

3319677640,3319677659

More Books

Students also viewed these Finance questions

Question

Define Income Elasticity of demand.

Answered: 1 week ago