question archive You have just made your first $ 200,000 yen contribution to your retirement account
You have just made your first $ 200,000 yen contribution to your retirement account
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You have just made your first $ 200,000 yen contribution to your retirement account. Assuming you earn a 10% rate of return and make no additional contribution, what will your account be worth when you retire in 55 years.
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Answer 37,811,800 Yen
We have to calculate the future value of the initial depsoit of 200000 after 55 years .
FV = PV * (1+r)n
FV = 200,000 * (1.1)55
FV = 200,000 *(189.059)
FV = 37,811,800 Yen
