Suppose an individual invests $1,000 at the beginning of each year for the next 30 years. Thirty years from now, how much more will the first $1,000 investment be worth than the 16 th $1,000 investment if both earn 8.5% compounded annually?

Question

Suppose an individual invests $1,000 at the beginning of each year for the next 30 years. Thirty years from now, how much more will the first $1,000 investment be worth than the 16 th  $1,000 investment if both earn 8.5% compounded annually?

Oleveyah Wills · Accepted Answer

Final Answer : Difference = $8,158.51

Suppose an individual invests $1,000 at the beginning of each year for the next 30 years. Thirty years from now, how much more will the first $1,000 investment be worth than the 16^th $1,000 investment if both earn 8.5% compounded annually?

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Learning Objectives

Related questions

Suppose an individual invests $1,000 at the beginning of each year for the next 30 years. Thirty years from now, how much more will the first $1,000 investment be worth than the 16th $1,000 investment if both earn 8.5% compounded annually?

Definitions

Learning Objectives

Learning Objectives

Related questions

Suppose an individual invests $1,000 at the beginning of each year for the next 30 years. Thirty years from now, how much more will the first $1,000 investment be worth than the 16^th $1,000 investment if both earn 8.5% compounded annually?