In planning for retirement, an investor decides she will save $17,000 every year for 38 years. At an 8% return on her investment, how much money will she have at the end of 38 years (to the nearest hundred thousand dollars) ?

A) $3,700,000
B) $6,800,000
C) $7,900,000
D) $10,800,000

Question

Abdullah Al Rikabi · Accepted Answer

Final Answer : A, Explanation :  Calculator entries are N = 38, I/Y = 8, PV = 0, PMT = 17,000, CPT FV → 3,745,371.07

In planning for retirement, an investor decides she will save $17,000 every year for 38 years. At an 8% return on her investment, how much money will she have at the end of 38 years (to the nearest hundred thousand dollars) ?

A) $3,700,000
B) $6,800,000
C) $7,900,000
D) $10,800,000

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Learning Objectives

Related questions

In planning for retirement, an investor decides she will save $17,000 every year for 38 years. At an 8% return on her investment, how much money will she have at the end of 38 years (to the nearest hundred thousand dollars) ?A) $3,700,000B) $6,800,000C) $7,900,000D) $10,800,000

Definitions

Learning Objectives

Learning Objectives

Related questions

In planning for retirement, an investor decides she will save $17,000 every year for 38 years. At an 8% return on her investment, how much money will she have at the end of 38 years (to the nearest hundred thousand dollars) ?

A) $3,700,000
B) $6,800,000
C) $7,900,000
D) $10,800,000