anonymous
  • anonymous
Sarat invested an average of $375 per month since age 35 in various securities for his retirement savings. His investments averaged a 4.5% annual rate of return until he retired at age 65. Given the same monthly investment and rate of return, how much more would Sarat have in his retirement savings had he started investing at age 25? Assume monthly compounding.
Finance
schrodinger
  • schrodinger
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anonymous
  • anonymous
$202,500.00 $218,161.70 $117,562.50 $174,278.98
anonymous
  • anonymous
Hi. $218161.70 The number of annuities is going to change from 360 (12month * 30 years) to 480. The difference in FV is $218161.70

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