You deposit $10,000 into an investment account. You believe that you can reasonably expect a compounding 6% annual growth rate over the next thirty years. If you were to achieve that long-term growth rate, what would be the value of your investment?
You deposit $10,000 into an investment account. You believe that you can reasonably expect a compounding 6% annual growth rate over the next thirty years. If you were to achieve that long-term growth rate, what would be the value of your investment?
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 16P
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You deposit $10,000 into an investment account. You believe that you can reasonably expect a compounding 6% annual growth rate over the next thirty years. If you were to achieve that long-term growth rate, what would be the value of your investment?
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