You want to retire at age 65. You decide to make a deposit to yourself at the end of each year into an account paying 4%, compounded annually. Assuming you are now 25 and can spare $1,200 per year, how much will you have when you retire at age 65? (Round your answer to the nearest cent.) $

You want to retire at age 65. You decide to make a deposit to yourself at the end of each year into an account paying 4%, compounded annually. Assuming you are now 25 and can spare $1,200 per year, how much will you have when you retire at age 65? (Round your answer to the nearest cent.) $

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 34P

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