| Time Value of Money Calculations Answers |
1. 15,000/0.06 = $250,000
2. $3,000 / 0.05 = $60,000
3. $100,568
4. $29,361
5. $68,018 - she will not meet her goal
6. George's money will grow to $15,431 in the initial 6 year period. Then it will continue to grow to $1,184,794 at
age 65.
Sam must invest $3,255 per year to retire with the same amount of money at age 65. The cost of waiting!!
age 65.
Sam must invest $3,255 per year to retire with the same amount of money at age 65. The cost of waiting!!