Question

You want to save for retirement. assuming you are now 25 years old and you want to retire at age 50, you have 25 years to watch your investment grow. you decide to invest in the stock market, which has earned about 13% per year over the past 80 years and is expected to continue at this rate. you decide to invest $1,000 today. required: how much do you expect to have in 25 years?

Answer 1

Answer:

4250

Step-by-step explanation:

0.13 = 13%

1000×0.13=130
130×25= 3250 + 1000 = 4250

What I did:

You have to turn the percent to a decimal first

Then multiply the decimal by the first investment amount (1000)

then multiply that by the years that you have before retirement
You add that amount plus the 1000 you have started with