You received $250 for your 18th birthday. You immediately invest in an index fund that has an average annual rate of return of 12.4% compounded monthly. You
contribute $25 a month for the 1st ten years of your investment. You contribute
$250 a month for the next twelve years. For the last twenty-five years you
contribute $1,500 per month. What is the value of your investment on your 65th
birthday? Justify your answer. *
Hint: You will need to find the future value for each period of time investing with different monthly
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