SOLUTION: You would like to start saving for retirement. Assuming you are now 50 years old and you want to retire at age 60, you have 10 years to watch your investment grow. You decide to in
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: You would like to start saving for retirement. Assuming you are now 50 years old and you want to retire at age 60, you have 10 years to watch your investment grow. You decide to in
Log On
Question 633350: You would like to start saving for retirement. Assuming you are now 50 years old and you want to retire at age 60, you have 10 years to watch your investment grow. You decide to invest in the stock market, which has earned about 9% per year over the past 20 years and is expected to continue at this rate. You decide to invest $3,900 at the end of each year for the next 10 years. What is the future value of annuity? Answer by rfer(16322) (Show Source):
(