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Smokey Stack smokes a pack of cigarettes a day. Each pack of cigarettes costs $2.75. Smokey is wondering how much money he could accumulate if
Smokey Stack smokes a pack of cigarettes a day. Each pack of cigarettes costs $2.75. Smokey is wondering how much money he could accumulate if he quit smoking and invested the money. Assuming the saved amount is invested at the end of the year at a 10% rate of return, how much could he accumulate during the next 35 years. (Assume 365 days a year)
a. | $282,557.03 | |
b. | $23,751.98 | |
c. | $269,084.21 | |
d. | $272,040.71 |
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