Time value of Money annuity Question: How much will someone retire with given the following?
Assuming $346 is invested biweekly in a retirement fund with an expected return of 11.25% annually for 45 years, how much will the retiree have at the end of 45 years?
Public Comments
- I could look up the formula for this and give you the answer. However this is one of the few math problems that can actually have a bearing on your life. I encourage you to find the answer for yourself and then if possible put it into action with actual money. I studied equations such as these, which are basically compound interest problems, when I was younger. I plan to retire in a few years, because of the effects of compounding interest.
