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You would like to start saving for retirement. Assuming you are now 20 years old...

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Accounting

You would like to start saving for retirement. Assuming you are now 20 years old and want to retire at age 50, you have 30 years to watch your investment grow. You decide to invest in the stock market, which has earned about 10% per year over the past 80 years and is expected to continue at this rate. You decide to invest $1,000 at the end of each year for the next 30 years.

Required:

Calculate how much your accumulated investment is expected to be in 30 years.

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