You would like to start saving for retirement Assuming you are now 25 years old

Question

You would like to start saving for retirement Assuming you are now 25 years old and you want to retire at age 55, you have 30 years to watch your investment grow. You decide to invest in the stock market, which has earned about 9% per year over the past 80 years and is expected to continue at this rate. You decide to invest $1,000 at the end of each year for the next 30 years. Required: Calculate how much your accumulated investment is expected to be in 30 years. (EY ofS1, PV of$1, EVA ofS and PVA of S1) (Use appropriate factor[s) from the tables provided. Round your answer to 2 decimal places.) mulated investment 202 00 D

Explanation / Answer

Calculation of future value of investments made each year Value of investment each year 1000 Expected rate of return 9% No. of Years 30 Future value of investments $136,307.54

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