You want to retire in 30 years and plan to invest in a fund that...
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You want to retire in 30 years and plan to invest in a fund that offers a 9.6% APR. You are considering two strategies. Both involve investing $ 2,300 per year. Assume all investments are made at the end of the year.
A) Make annual contributions for the first 10 years and then quit making new contributions.
B) Wait 10-years before making your first contribution and continue contributing until retirement.
How much will you have at retirement if you follow plan (A)?
How much will you have at retirement if you follow plan (B)?
Round your final answers to the nearest dollar.
Blank #1 ___________
Blank #2____________
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