Your parents are planning to retire in 18 years. They currently have $250,000. They supplement those dollars with an annual payment into a retirement account of $20,000. What will be the value of all dollars if the funds can earn an interest rate of 5%? What will be the value of all dollars if the funds can earn an interest rate of 10%?© BrainMass Inc. brainmass.com December 20, 2018, 11:46 am ad1c9bdddf
Compute the future value of a deposit and of an annuity.