In planning for retirement, an investor decides she will save $15,000 every year for 45 years. At a 10% return on her investment, how much money will she have at the end of 45 years (to the nearest hundred thousand dollars) ?

A) $1,400,000
B) $2,800,000
C) $4,900,000
D) $10,800,000

Question

Jemal Gelchu · Accepted Answer

Final Answer : D, Explanation :  FV = 15,000 ×   = $10,800,000Calculator entries are N = 45 I/Y = 10, PV = 0, PMT = −15,000, CPT FV → 10,783,572.55.

In planning for retirement, an investor decides she will save $15,000 every year for 45 years. At a 10% return on her investment, how much money will she have at the end of 45 years (to the nearest hundred thousand dollars) ?

A) $1,400,000
B) $2,800,000
C) $4,900,000
D) $10,800,000

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Learning Objectives

Related questions

In planning for retirement, an investor decides she will save $15,000 every year for 45 years. At a 10% return on her investment, how much money will she have at the end of 45 years (to the nearest hundred thousand dollars) ?A) $1,400,000B) $2,800,000C) $4,900,000D) $10,800,000

Definitions

Learning Objectives

Learning Objectives

Related questions

In planning for retirement, an investor decides she will save $15,000 every year for 45 years. At a 10% return on her investment, how much money will she have at the end of 45 years (to the nearest hundred thousand dollars) ?

A) $1,400,000
B) $2,800,000
C) $4,900,000
D) $10,800,000