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Lila and Ben are newlyweds and are hashing out their finances. They decided to deposit $5,500 annually in a joint investment account for the first
Lila and Ben are newlyweds and are hashing out their finances. They decided to deposit $5,500 annually in a joint investment account for the first 10 years of their marriage so that they can use it as a secondary retirement account. The first payment was made at the end of 2000. If the annual interest rate is 4%, how much accumulated wealth will they have at the end of the year 2025, 25 years after the first payment? Express your answer in terms of dollars, rounded to the nearest dollar
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