Suppose That Immediately After Graduation You Invested $3,000 Each Year

question 23

Multiple Choice

Suppose that immediately after graduation you invested $3,000 each year for 15 years and nothing thereafter.You earn 10% on this money.Which of the following is closest to the amount of money you would you have on deposit when you retired in 40 years (25 years after the deposits stopped) ?

• A)$47,812
• B)$523,482
• C)$834,295
• D)$1,032,736

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