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linda_us, Master's Degree
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Two professors are hired at the same time. They each work for

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Two professors are hired at the same time. They each work for 30 years during which time the school invests $12,000 per year into their retirement fund. The professors can direct their investments. Prof "A" invests in a guarenteed return fund that earns 3% per year for 30 years. Prof "B" invests in an index 500 fund that averages 10% per year for 30 years. Using the future value of annuity chart, how much does each professor have when they retire?
Submitted: 5 years ago.
Category: Business and Finance Homework
Expert:  linda_us replied 5 years ago.


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Linda
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