How much more does need to invest to get the same amount

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Reference no: EM132771310

Problem 1: A twenty-year-old decides to save Rs.1,000 per month into a retirement account that will mature when she will turn 65. How much will she accumulate assuming that the she gets a return @12% per annum compounded monthly? How much will a 40-year-old get if he makes a similar investment? How much more does he need to invest to get the same amount?

Reference no: EM132771310

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