Retirement fund-what would his nest egg amount

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Jacqueline Strauss, whose 25 is committed $3000 per year for her retirement fund and assumes shell retire at 65. How much will she have accumulated when she turned 65 if she invests in equities and earns 8% on average? Jacqueline wants a friend, mike, to start his plan right away, he's 35. What would his nest egg amount two if he invested in the same manner as Jacqueline and he, too, retire in 65?

Reference no: EM13732270

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