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2007-10-21 11:56:47 · 3 answers · asked by wayward_holstein 1 in Business & Finance Investing

3 answers

Incomplete information. With annual compounding you will have $102,620.36. With monthly compounding you will have $103,876.42.

2007-10-21 12:03:27 · answer #1 · answered by Anonymous · 1 0

If you want the truth, you will have less money in 11 years than you have today because of inflation.

Yes, I know the Consumer Price Index says that we only have 3 to 4% inflation, but that number is very politically adjusted. The value of the dollar is dropping at a much greater rate, which causes prices of everything to go up.

Gasoline, insurance costs, milk, butter, home heating, college tuition, all the things that you spend money on every day are going up at a rate that is much faster that what the CPI shows.

So the truth is that your bank account might show over $100,000 in 11 years, but that money will buy less 11 years from now thatn your $60,000 will buy today.

2007-10-21 14:06:33 · answer #2 · answered by Anonymous · 1 0

A bit over a $100K ,
So what's your plan ?
Retirement ?

>

2007-10-21 12:08:25 · answer #3 · answered by kate 7 · 0 0

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