Question

At age 37, Paul Li decides to plan for his retire- ment at age 67. He currently has a net worth of about $45,000 including the equity in his home. He assumes that his employer will contribute 53500 to his retirement plan at the end of each year for the next 30 years. He plans to put one- half of his money in a mutual fund containing stocks and the other one-half in a mutual fund containing bonds. I only have a -year degree, bul I can I can dop working Estimate Li's net worth at age 67 if his net worth gro ws at 5% per year, his stock fund grows at 10% per year, and his bond fund grows at 6% per year.

Answer 1

Answer:

$64664 will be the answer to your question

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