posted by Ann-Marie on .
Sydney saved 50 000 during her first year of work after college and plans to invest it for her retirement in 40 years how much will she have available for retirement of she can make 8 percent on her investment
Good heavens! From what world did this question come? Fantasyland?
Saved $50,000 in one year??
8% annual interest for 40 years?
The answer is $1,086,250
Xiao Li wishes to accumulate $50,000 by the end of 10 years by making equal annual end-of-year deposits over the next 10 years. If Xiao Li can earn 5 percent on her investments, how much must she deposit at the end of each year?