Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Lindsay is 29 years old and has a new job in web development. She wants to make sure that she is financially sound by the
age of 55, so she plans to invest the same amount into a retirement account at the end of every year for the next 26 years.
(a) Construct a data table in Excel that will show Lindsay the balance of her retirement account for various levels of annual
investment and return. If Lindsay invests $10,000 at return of 6%, what would be the balance at the end of the 26th
year? Note that because Lindsay invests at the end of the year, there is no interest earned on the contribution for the
year in which she contributes. Round your answer to a whole dollar amount.
$
10,000
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Transcribed Image Text:Lindsay is 29 years old and has a new job in web development. She wants to make sure that she is financially sound by the age of 55, so she plans to invest the same amount into a retirement account at the end of every year for the next 26 years. (a) Construct a data table in Excel that will show Lindsay the balance of her retirement account for various levels of annual investment and return. If Lindsay invests $10,000 at return of 6%, what would be the balance at the end of the 26th year? Note that because Lindsay invests at the end of the year, there is no interest earned on the contribution for the year in which she contributes. Round your answer to a whole dollar amount. $ 10,000
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