Suppose You Start Saving For Retirement When You Are 45 Years Old. You Invest $5,000 The First Year And Increase This Amount By 3% Each Year To Match Inflation For A Total Of 20 Years. The Interest Rate Is 10% Per Year. How Much Money Will You Have Saved When You Are 65 Years Old?

Suppose you start saving for retirement when you are 45 years old. You invest $5,000 the first year and increase this amount by 3% each year to match inflation for a total of 20 years. The interest rate is 10% per year. How much money will you have saved when you are 65 years old?

- November 14, 2022 - Edwin Tunner

Suppose you start saving for retirement when you are 45 years old. You invest $5,000 the first year and increase this amount by 3% each year to match inflation for a total of 20 years. The interest rate is 10% per year. How much money will you have saved when you are 65 years old?

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