Luke believes that he can invest $5,000 per year for his retirement in 30 years. How much will he have available for retirement if he can earn 8% on his investment?
A. 566,400
B. 681,550
C. 150,000
D. 162,000
Answer:A
Luke believes that he can invest $5,000 per year for his retirement in 30 years. How much will he have available for retirement if he can earn 8% on his investment?
A. 566,400 B. 681,550 C. 150,000 D. 162,000