You just won

$100,000

on a scratch-off lottery ticket. You plan to save the money in a retirement account expected to return

7%

per year. If you intend to retire in 45 years, how much are these lottery winnings expected to be worth when you retire?\

$2,615,364

\

$2,100,245

\

$942,089

\

$9,665,457

\

$2,234,431

\ If you find an account that pays

8%

annual interest instead of

7%

, how much would you have at retirement?\

$14,578,097

\

$3,382,910

\

$3,751,878

\

$3,192,045

\

$4,050,123

\ Suppose the new retirement account actually pays

8%

interest per year and pays interest monthly. How much money would you have at retirement?\

$17,034,358

\

$3,677,597

\

$3.411.933

You just won $100,000 on a scratch-off lottery ticket. You plan to save the money in a retirement account expected to return 7% per year. If you intend to retire in 45 years, how much are these lottery winnings expected to be worth when you retire? $2,615,364 $2,100,245 $942,089 $9,665,457 $2,234,431 If you find an account that pays 8% annual interest instead of 7%, how much would you have at retirement? $14,578,097 $3,382,910 $3,751,878 $3,192,045 $4,050,123 Suppose the new retirement account actually pays 8% interest per year and pays interest monthly. How much money would you have at retirement? $17,034,358 $3,677,597 $3.411.933