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    Retirement Investment Plans

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    I will discuss the retirement plan I am currently investing in. It's nothing major I am only investing $ 1200 a year with an annual interest rate of 4.5% compounded annually . Not a big amount of money will be generated by the time I retire but it should do with the social security plans that we have after we retire from work and fingers crossed things should workout well!

    FV= 1200(1+0.045) ^24

    FV= $3,451.22 whereby the total interest rate on yearly basis will be ($2,251.22)

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    https://brainmass.com/business/the-time-value-of-money/retirement-investment-plans-598504

    Solution Preview

    I like this investment plan because it is practical in regard to enabling the person to put money in savings that will eventually result in important ...

    Solution Summary

    This solution provides a discussion about retirement investment plans.

    $2.19