Unformatted text preview: (1) What if the interest rate averages 10% instead of 7%, how much will each have then? • For Jack: He will have $95,624 in the account at age 33. At retirement he will have $ 2,018,983 in the account. • For Bill: He will have $1,206,826 at retirement. (2) Suppose Jack retires at 62. How does his retirement fund compare to Bill’s who will retire at 65? At age 33 Jack will have $82,898.69 to invest. This will be worth $589,763. when he is 62. Below is the table from age 61 to 67....
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 Fall '08
 GERMAN
 Calculus, PreCalculus, Jack, retirement fund, future value formula

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