Morris will start investing $1,710 a year in stocks. He feels he can average a 16%...
Morris will start investing $1,710 a year in stocks. He feels he can average a 16% return. If he follows this plan, how much will he accumulate in 10 years? In 20 years? In 30 years?
Homework Answers
PMT (Amount every year) = $ 1,710
Average return (rate) = 16%
For 10 years
Nper = 10
Future value = 
= $ 36,459.71
For 20 years,
Nper = 20
Future value = $ 197,299.37
For 30 years,
Nper = 30
Future Value = $ 906,833.06
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