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Let's try something
messier:
If we invest
$400
a month at 8.4%,
how much will we have in
40
years?
investment amount
=
$400
growth factor
=
$1.007
interest per period
=
.007
number of periods
=
480
TRY IT:
Invest
$250
a month at 9%.
How much will you have in
20
years?
One
more... and this one we'll do yearly instead of
monthly. (So, we'll have to assume it's compounded
yearly.)
If we invest
$5000
a year at 10%,
how much will we have in
25
years?
investment amount
=
$5000
growth factor
=
$1.10
interest per period
=
.10
number of periods
=
25
YOUR TURN:
Invest
$10,000
a year at 15%.
How much will you have in
35
years?
Continued on the
next
page
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