Assume you can earn 9% per year on your investments. a. If you invest $10,000 for retirement at age 30, how much will you have 35 years later for retirement? b. If you wait until age 40 to invest the $10,000, how much will you have 25 years later for retirement? c. Why is the difference so large? a. If you invest $10,000 for retirement at age 30, how much will you have 35 years later for retirement? The amount of money you will have 35 years later for retirement is $ (Round to the nearest cent.)

Assume you can earn 9% per year on your investments. a. If you invest $10,000 for retirement at age 30, how much will you have 35 years later for retirement? b. If you wait until age 40 to invest the $10,000, how much will you have 25 years later for retirement? c. Why is the difference so large? a. If you invest $10,000 for retirement at age 30, how much will you have 35 years later for retirement? The amount of money you will have 35 years later for retirement is $ (Round to the nearest cent.)

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 35P

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