How fast does your money grow
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Barry wants to invest in 5-10 years. A financial planner told him that a ROTH IRA would be more profitable over time than a regular IRA.
Use formula FV=$1(1+R)n where R is the period rate and n is the number of periods.
- Calculate the accumulated value of an investment of $2,000 at 6% compounded annually for 35 years.
- Calculate how much money by age 60.
- Calculate how much less he will earn investing ten years later.
- Calculate using table 10-1 to determine how many years it takes $1.00 to double if invested at 10%: at 12%.
- Find interest rate you need to double your money in 10 years.
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The expert determines how fast the money grows by using a financial planner. A complete, neat and step-by-step solution is provided in the attached file.
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Barry wants to invest in 5-10 years. A financial planner told him that a ROTH IRA would be more profitable over time than a regular IRA.
Use formula FV=$1(1+R)n where R is the period rate and n is the number of periods.
- Calculate the accumulated value of an ...
Purchase this Solution
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