Suppose, at age 25, you win the lottery and invest $25,000 in an investment acco
ID: 2877363 • Letter: S
Question
Suppose, at age 25, you win the lottery and invest $25,000 in an investment account. If the account compounds monthly and guarantees a 6% annual return, how much will it be worth at age 55, 30 years after your initial investment? Suppose, at age 25, you win the lottery and invest $25,000 in an investment account. If the account compounds monthly and guarantees a 6% annual return, how much will it be worth at age 55, 30 years after your initial investment? Suppose, at age 25, you win the lottery and invest $25,000 in an investment account. If the account compounds monthly and guarantees a 6% annual return, how much will it be worth at age 55, 30 years after your initial investment?Explanation / Answer
as final amount =(principal amount)*(1+r/100)n , where r= rate of annual return , annd n =number of periods of investment
final amount =25000(1+0.06)30
==25000*5.7435=143587.3
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