When you take your job, you decide to start saving for your retirement. You put P3k per year into the company’s plan, which averages 18% interest per year. Five years later, you move to another job and start a new plan. You never get around to merging the funds, if the 1st plan continued to earn interest at the rate of 18% per year for 25 years after you stopped making contributions, how much is the account worth?

When you take your job, you decide to start saving for your retirement. You put P3k per year into the company’s plan, which averages 18% interest per year. Five years later, you move to another job...

When you take your job, you decide to start saving for your retirement. You put P3k per year into the company’s plan, which averages 18% interest per year. Five years later, you move to another job and start a new plan. You never get around to merging the funds, if the 1^st
plan continued to earn interest at the rate of 18% per year for 25 years after you stopped making contributions, how much is the account worth?

Jun 10, 2022