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Shaylea, age 22, just started working full-time and plans to deposit $4,400 annually into an IRA eaming 8 percent interest compounded annualy How much would she have in 20 years, 30 years, and 40 years?
she changed her investment period and instead invested $366 67 monthly, and the investment also changed to monthly compounding, how much would she have after the same three time periods? Comment on
the differences over time
Click the table icon to view the future value FVIFA table
(Round to the nearest cent)
(Round to the nearest cent)
With annual investments and compounding, after 20 years, Shaylea would have $ 201,352 64
With annual investments and compounding, after 30 years, Shaylea would have $ 498 445 13
With annual investments and compounding, after 40 years, Shaylea would have $1,139,848 68
With
(Round to the nearest cent)
monthly investments and monthly compounding interest, after 20 years, Shaylea would have $215,977 19 (Round to the nearest cent)
With monthly investments and monthly compounding interest, after 30 years, Shaylea would have $ (Round to the nearest cent)