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On Jordan's 20th birthday he decides to invest 10,000 that he has saved. He will not be adding any money to the initial investment. He projects that the investment will earn 10% per year. Based on these
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43 votes
43 votes
On Jordan's 20th birthday he decides to invest 10,000 that he has saved. He will not be adding any money to the initial investment. He projects that the investment will earn 10% per year. Based on these assumptions, how much money should Jordan expect to have when he turns 60?

Question 7 options:


$452,592.56


$278,582.56


$427,986.56


$438,478.56


$397,567.56


$301,578.66

User Venimus
by
2.4k points

1 Answer

11 votes
11 votes

Answer:

452592.56

Step-by-step explanation:

10000(1.1)^40=452592.555682

User FelixM
by
3.1k points
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