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What will your account be worth when you retire in 45 years

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Question .1. Suppose you are still committed to owning a $245000 Ferrari. If you believe your mutual fund can achieve an annual rate of return of 11.2% and you want to buy the car in nine years (on the day you turn 30), how much you invest today?

Question .2. You have just made your first $5500 contribution to your super account. Assuming you earn a return of 10% per year and make no additional contributions, what will your account be worth when you retire in 45 years? What if you wait 10 years before contributing? (does this suggest an investment strategy?)

Question .3.You expect to receive $10000 at graduation in 2 years. You plan on investing it at 9% until you have $60000. How long will you wait from now?

 

Reference no: EM133530822

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