Johnny expects to save the following amounts: Year 1 = $50k; Year 2 = $28k; Year 3 = $12k. If he can earn an average annual return of 10.5 percent, how much will he have saved in this account exactly 25 years from the time of the first deposit? Group of answer choices 1172k 806k 947k 935k 1034k
Johnny expects to save the following amounts: Year 1 = $50k; Year 2 = $28k; Year 3 = $12k. If he can earn an average annual return of 10.5 percent, how much will he have saved in this account exactly 25 years from the time of the first deposit? Group of answer choices 1172k 806k 947k 935k 1034k
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Johnny expects to save the following amounts: Year 1 = $50k; Year 2 = $28k; Year 3 = $12k. If he can earn an average annual return of 10.5 percent, how much will he have saved in this account exactly 25 years from the time of the first deposit?
Group of answer choices
1172k
806k
947k
935k
1034k
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