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What is your age today

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What is your age today? (24 years old)

  • Assume today is January 1. At the end of each year, starting December 31, 2021, you put $3,000 in an investment account earning 8% per year (compounded annually) and you continue making $5,000 contributions at the end of every year until you reach age 70. How much will you have in your retirement account?
  • How much will you have in your account if you start your contributions at the end of 2022, instead of the end of 2021?

Reference no: EM133073458

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