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Posted: June 15th, 2022
You plan to save $eight,000 each of the next 35 years, and invest that money in an account that pays 9% annual curiosity. As well as, you plan to pay in your childâs faculty training starting in 20 years. You anticipate that training to value $30,000 per yr for 4 years. To pay for the training, you’ll merely withdrawal money out of your funding account. As well as, a long-lost relative just lately died, leaving you $50,000. A timeline depicting this example follows.Date01-1920-2323-35Deposits$50,000$eight,000$eight,000$eight,000Withdrawals$30,000How a lot money will you’ve got simply after you make your final deposit 35 years from at present?
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