Solved: If the account has an expected annual return of 10 how much, Basic Statistics

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If the account has an expected annual return of 10 how much

Starting on her 30^th birthday, Anne plans to start saving for her retirement. She will contribute $3,000 to a brokerage account each year on her birthday, starting today. Her 35^th and final contribution will take place on her 64^th birthday. Anne currently has $20,000 in her savings account that will jump start her retirement savings. If the account has an expected annual return of 10%, how much will Anne expect to have in her account on her 65^th birthday?

a. $1,175,550.00

b. $1,200,000.00

c. $1,375,121.84

d. $1,456,429.15

e. $1,545,667.22

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Basic Statistics: If the account has an expected annual return of 10 how much

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Basic Statistics: If the account has an expected annual return of 10 how much

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