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You are 18 years old today. You plan to start saving for retirement on your 25th birthday in the amount of $1,968.63. You will save
You are 18 years old today. You plan to start saving for retirement on your 25th birthday in the amount of $1,968.63. You will save that same amount on that birthday plus future birthdays for a total of 28 deposits. Assume a rate of return of 8% compounded annually. How much will be in your account when you turn 70? Use the $ symbol and round to the nearest $000....no cents...use commas. Hint...the last three numbers in your answer should be close to 000....something like $650,000
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