53-55 4 points each 53. Assume you have $10,000 to invest in a fund...
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Accounting
53-55 4 points each
53. Assume you have $10,000 to invest in a fund at 5% interest. Show the math.
a. How much will be in the fund at the end of year 1? __________
b. How much will be in the fund at the end of year 2? __________
c. How much will be in the fund at the end of year 20? __________
54. Assume you invest $5,000 each year for 40 years. STARTING 2016. What will be the balance in your fund at 5% interest in Year 2056? Show the present value amount and math.
55. Assume you want to retire with a fund of $600,000 in a retirement fund at 10% interest in 40 years. How much should you invest in the bank today so you have $600,000 in 40 years?
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