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Suppose you are planning to retire after 30 years from now. In your early years, you plan to invest $3,500 from your monthly salary for
Suppose you are planning to retire after 30 years from now. In your early years, you plan to invest $3,500 from your monthly salary for 6 years. Assuming that you will be promoted to a higher designation after 6 years, you will invest $5,000 for another 10 years. Finally, once you reach your highest designation, you will invest $6,500 for the rest of 14 years. If the effective annual rate of return remains the same with 12% interest, what will be the future worth of your investment 30 years from now?
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