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You are planning to invest $8,000 in an account earning 6% per year for retirement. a. If you put the $8,000 in an account at
You are planning to invest
$8,000
in an account earning
6%
per year for retirement.
a. If you put the
$8,000
in an account at age 23, and withdraw it
47
years later, how much will you have?
b. If you wait 10 years before making the deposit, so that it stays in the account for only
37
years, how much will you have at the end?
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