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jacobiroberts18
17.02.2020 •
Business
Assume you can earn 9 % per year on your investments. a. If you invest $ 100 comma 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 $ 100 comma 000, how much will you have 25 years later for retirement? c. Why is the difference so large?
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Ответ:
(a) future value = $2041396.79
(b) future value = $862308.06
(c) financially suggest to invest early so that here amount fetch maximum returns
Explanation:
given data
rate = 9%
solution
when we invest = $100,000
time t = 35 year
so we get here future value FV
FV = Present value ×
...................1
FV = $100,000 ×
FV = $2041396.79
and
when time will be 25 year
future value will be
FV = Present value ×
.................2
Fv = $100,000 ×![(1+0.09)^{25}](/tpl/images/0513/4161/1ea10.png)
FV = $862308.06
and
we can see difference is large because of the compounding effect
so the financially suggest to invest early so that here amount fetch maximum returns
Ответ: