Pamela sets aside $100 per month during her 40 year career. She invests in the...
50.1K
Verified Solution
Link Copied!
Question
Basic Math
Pamela sets aside $100 per month during her 40 year career. She invests in the US stock market through an index fund that in 40 years. averages a 7% return over this 40 year period. Her retirement account will be worth $ How much of the total did Pamela contribute herself? $ How much money did Pamela make through compounded returns in this investment account? $
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!