Resolution is to start a retirement fund, Accounting Basics

Resolution is to start a retirement fund

1.Jenny's New year's resolution is to start a retirement fund . She has opened an account with a local broker by depositing $1000 in an investment fund. In the future she plans to invest $500 monthly into the fund. The investment funds averages a return of 6% APR with monthly compounding

a What will she have available for retirement after 30 years?
b If Jenny wants a retirement fund of $1 million when she retires in 30 years, how much will she have to invest each month with everything else the same?

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Accounting Basics: Resolution is to start a retirement fund

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Accounting Basics: Resolution is to start a retirement fund

Reference No:- TGS0683926

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Resolution is to start a retirement fund

Reference No:- TGS0683926

Recent Questions Asked Accounting Basics

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Q : What would be the sales budget for march

Q : Expected value-variance and standard deviation

Q : How will sandran report this change

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