Mathematics, 27.02.2021 06:40 barisege6030
Is this correct? Please tell me if its right or not its very overdue!! Also if it's wrong please tell me the answer/what to do!
question:
When Jack turned 21, he decided to start investing $200 a month every year for nine years. At age 30, he decided to stop investing altogether.
Blake started a little later, investing $200 a month every month starting at age 30, all the way until the ripe old age of 67.
Assuming that they were both amazing at investing and made 11% interest per year, how much money will they both have at age 67?
my
200 x 12 = 2400 per year
Jack:
2400* (1.11/1) ^ (1*46) = 291788.56346755
Blake:
2400 * (1.11 * 1) ^ (1 * 37) = 114067.3775
Answers: 1
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