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The Retirement Plan By: Lourdes De Leon
I've finally turned 28, i'm gonna go to the bank tomorrow and start a retirement plan starting with 5,000 dollars!
How much cash will I have in 37 years?
It'd be 8243.60 dollars sir
One day Steve, an office worker, got a check of 5,000 dollars. He decided to use that money and set a separate account for his retirement at age 65.
what about 10%?
you'd have $202236.09
Steve went to Reaper Banking to invest 5% of his money, and asked how much would he make after 37 years if it was compounded continuously.
The Reaper stood for a moment and pondered. Then after doing some calculations, he responded with, " you'd have $31799.09 dollars."
Steve sighed and said "what if I invested 10%?" The Reaper pondered for a moment and replied "you'd have $202236.52"
With this information Steve settled with investing 10% of his cash and jogged on home to tell his dog. The End
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