How much can be accumulated for retirement if $2,000 is put aside at the end of each of the next 40 years? Assume that you can earn 9% a year on your savings.
A) $87,200.00
B) $675,764.89
C) $736,583.73
D) $802,876.27

Name: How much can be accumulated for retirement if $2,000 is put aside at the end of each of the next 40 years? Assume that you can earn 9% a year on your savings. A) $87,200.00 B) $675,764.89 C) $736,583.73 D) $802,876.27
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Question

Quizplus · Accepted Answer

FV = $2,000 {[(1 + 0.09)⁴⁰ − 1] / 0.09}FV = $675,764.89

How Much Can Be Accumulated for Retirement If $2,000 Is