A 20-year-old student wants to save 3 a day for her


A 20-year-old student wants to save $3 a day for her retirement. Every day she places $3 in a drawer. At the end of each year, she invests the accumulated savings ($1,095) in a brokerage account with an expected annual return of 12%. If she keeps saving in this manner, how much will she have accumulated at age 65?

Solution Preview :

Prepared by a verified Expert
Finance Basics: A 20-year-old student wants to save 3 a day for her
Reference No:- TGS01484216

Now Priced at $10 (50% Discount)

Recommended (94%)

Rated (4.6/5)