SOLUTION: IF you invest $2,000 per year in an investment for retirement at 6% per year compounded continuously, will you have enough to retire comfortably after 40 years? Why? How much will
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Question 1075015: IF you invest $2,000 per year in an investment for retirement at 6% per year compounded continuously, will you have enough to retire comfortably after 40 years? Why? How much will be there? Found 2 solutions by addingup, MathTherapy:Answer by addingup(3677) (Show Source):
You can put this solution on YOUR website! only you can say if you'll have enough after 40 years. What kind of life will you want? Will you want to travel around the world in luxury? Or are you going to become a mystic and live in a cave in the mountains?
:
Amount = 2,000*e^(0.06*40)
:
Use your calculator. If your calculator doesn't have a key for e, use 2.718
You can put this solution on YOUR website!
IF you invest $2,000 per year in an investment for retirement at 6% per year compounded continuously, will you have enough to retire comfortably after 40 years? Why? How much will be there?
