Question

In: Finance

Suppose that you just turned 25 years old and decide to put $5,109 into investments at...

Suppose that you just turned 25 years old and decide to put $5,109 into investments at the end of each year until age 60 (35 years from now). You have no savings. Your EAR is 6.2%. How much will you have by age 60?

Solutions

Expert Solution

FV = 5,109 * 116.2949

FV = $594,150.51


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