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Paraphin [41]
1 year ago
12

How much could you save for retirement if you chose to invest the oney you spend on Starbucks coffee in one year? Assume you buy

one venti latte for $4.50 each weekday for 50 weeks and can invest the total amount in a mutual fund earning 5% compounded annually for 30 years. ROUND THE ANSWER TO TWO DECIMAL PLACES.
Amount saved for retirement: ________________
Mathematics
1 answer:
solmaris [256]1 year ago
7 0

Answer:

The answer should be $7,087.50

Step-by-step explanation:

4.50 x 50 = 225

225 x 1.05 = 236.25

236.25 x 30 = 7087.50

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<u>Solution:</u>

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