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Financial analysts recommend investing
15% to 20% of your annual income in your retirement fund to reach a replacement rate of 70%of your income by age 65. This recommendation increases to almost
30% if you start investing at 45 years old. Mallori Rouse is 27years old and has started investing $4,400 at the end of each year in her retirement account. How much will her account be worth in 20 years at 11% interest compounded annually? How much will it be worth in 30 years? What about at 40 years? How much will it be worth in
50 years?
Sagot :
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