Your goal is to have $200,000 in a 401K that is compounded continuously in order to retire. If you invest $9,500 for fifty years at a rate of 7%, will you reach your goal?

My account
Edit my Profile
Private messages
My favorites

Ask a Question
Questions
Unanswered
Tags
Categories
Ask a Question

asked Aug 11, 2022 165k views

2 votes

Your goal is to have $200,000 in a 401K that is compounded continuously in order to retire. If you invest $9,500 for fifty years at a rate of 7%, will you reach your goal?

Mathematics
high-school

Arctodus asked

by Arctodus

4.4k points

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

2 votes

Answer:

Yes

Explanation:

You will get $279,841.74 in that 50 years.

Eric Rosenberger answered Aug 18, 2022

by Eric Rosenberger

4.3k points

0 Comments

Please log in or register to add a comment.

Ask a Question

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

4.6m questions

5.9m answers

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

0 Comments

Please log in or register to add a comment.

Other Questions