You deposit $10,000 into an investment account.  You believe that you can reasonably expect a compounding 6% annual growth rate over the next thirty years.  If you were to achieve that long-term growth rate, what would be the value of your investment?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 16P
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You deposit $10,000 into an investment account.  You believe that you can reasonably expect a compounding 6% annual growth rate over the next thirty years.  If you were to achieve that long-term growth rate, what would be the value of your investment?

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