You get a $10,000 sign-on bonus at your new job when you're 25 and then commit to saving and investing $150 per month of your
You get a $10,000 sign-on bonus at your new job when you're 25 and then commit to saving and investing $150 per month of your salary for the next 25 years. If you can invest your money at 6.5%, compounding quarterly, how much will you expect to have at the end of 25 years?
(STOP AND THINK!!! !!important hint: the money is compounding QUARTERLY!! you need to adjust for this.)
| a. | $161,241 | |
| b. | $387,538 | |
| c. | $164,812 | |
| d. | $87,164 |
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Authors: Charles O. Kroncke, Alan E. Grunewald, Erwin Esser Nemmers
2nd Edition
0829901590, 978-0829901597
