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Your goal is to have $200,000 in a 401K that is compounded continuously in order to retire. If you invest $9,500 for fifty years at a rate of 7%, will you reach your goal?

Your goal is to have $200,000 in a 401K that is compounded continuously in order to retire. If you invest $9,500 for fifty years at a rate of 7%, will you reach your goal?
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2 votes
Your goal is to have $200,000 in a 401K that is compounded continuously in order to retire. If you invest $9,500 for fifty years at a rate of 7%, will you reach your goal?

asked
User Arctodus
by
9.1k points

1 Answer

2 votes

Answer:

Yes

Explanation:

You will get $279,841.74 in that 50 years.

answered
User Eric Rosenberger
by
8.1k points
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