A. You have just made your first $5,000 contribution to your retirement account. Assuming that...
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A. You have just made your first $5,000 contribution to your retirement account. Assuming that you earn a 10% compound annual rate of return, and assuming that you make no more contributions, what will your account be worth when you retire in 50 years? What will it be worth when you retire in 50 years if you wait 10 more years to make the same single initial contribution, which will earn the same 10% compound annual rate of return, but for only 40 years?
B. In January, 2010, the average house price in the United States was $283,400. In January, 2000, the average house price in the United States was $200,300. What was the annual compounded rate of increase, to the nearest tenth of one percent, in the average house price from 2000 to 2010?
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