Which investment strategy is better

Reference no: EM13293064

You have just made your first $5,000 contribution to your individual retirement account. Assume you earn a 10.5 percent rate of return and make no additional contributions.

Requirement 1:
What will your account be worth when you retire in 45 years? (Do not include the dollar sign ($). Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Requirement 2:
What will your account be worth if you wait 10 years before contributing? (Do not include the dollar sign ($). Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Requirement 3:
Which investment strategy is better?

Reference no: EM13293064

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