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I can only put away $2,000 a year toward retirement. I am 25 and plan on retiring at 65 and earning 5%. How much will I have at retirement?

Respuesta :

Answer: $241599.55

Explanation:

The following information can be gotten from the question:

Initial deposit, PV = $0

Rate charged on annuity, RATE= 5%

Number of periods, NPER = 65 - 25 = 40

Annuity payments, PMT = $2000

The amount that'll be gotten at the end of retirement will be gotten after entering the values in a financial calculator and the answer will be:

= $241599.55

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