You have $100,000 you want to invest for the next 30 years. You are offered an investment plan that will...
klbnvhainphYou have $100,000 you want to invest for the next 30 years. You are offered an investment plan that will pay you 10% per year for first the 20 years and 7% for the last 10 years.
- Create a timetable for this problem.
- How much money will you have at the end of the 30 years?
- Does it matter if the investment plan pays you 10% per year for the first 20 years and 7% percent per year for the next 10 years? Why or why not?
- How does the time value of money work?
- How does interest on interest work?
- How does simple and compounding interest work?
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