You Intend to Accumulate $100,000 in 10 Years Instead of 20

question 112

Essay

You intend to accumulate $100,000 in 10 years instead of 20 years by making equal monthly investment contributions. Will the monthly contribution for a 10-year plan be: (i) Twice the monthly contribution for a 20-year plan? (ii) Less than twice the monthly contributions? or (iii) More than twice the monthly contributions? Assume the same rate of return in both cases. Give the reasoning for your choice.

---

Definitions:

HR Practices

These entail various strategies and procedures implemented by the Human Resources department, including hiring, training, and employee relations to improve workforce performance.

Shifting Jobs Offshore

The practice of relocating a business's operational processes or services to another country, often to reduce costs.

European Union (EU)

A political and economic union of 27 European countries that are located primarily in Europe.

Economic Zone

A designated area in a country with economic benefits such as tax incentives and less stringent regulations to attract businesses and investment.