question archive When you take your first job, you started saving right away for your retirement account For six consecutive years you contributed $5500 per year into your retirement account, which earns 8% per year
When you take your first job, you started saving right away for your retirement account For six consecutive years you contributed $5500 per year into your retirement account, which earns 8% per year
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When you take your first job, you started saving right away for your retirement account For six consecutive years you contributed $5500 per year into your retirement account, which earns 8% per year. If you stopped contribution thereafter and the plan continued to earn interest at the rate of 10% per year for 24 years after you stopped making contributions, how much will the account worth? (10 Marks)
