A full-time worker aged 25 invests 250 a month in a fund, Ask an Expert

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A? full-time worker aged 25 invests ?$250 a month in a fund which has an average yearly return of 9.6?% compounded monthly.

?(a) The worker wants to estimate what they will have for retirement when they are 60 years old if the rate stays constant. Assume monthly compounding.

?(b) If the worker makes no further deposits and makes no withdrawals after age 60, how much will they have for retirement at age 69.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92765665

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