Marissa decides she wants to retire early. She makes an initial deposit of $1,000. Her contributions are $500 a month for the next 15 years. She chooses to invest in the US stock market through an index fund with a 7% return annually. What is the balance of Marissa’s retirement account after 15 years?

Question

Mason1239 · Answer

idk

abound · Answer

use calculator

hellokitty265 · Answer

@gingy57016

carry · Answer

use a calculator, and multiply my 1.07 for every year.

abound · Answer

approximately $152,154 will be  Marissa's future retirement balance

rawr1234 · Answer

Marissa's retirement account balance after 15 years would be approximately $181,760.

hannahj · Answer

@abound wrote:

approximately $152,154 will be Marissa's future retirement balance

yea ig