Fall07:How much will his investment be worth in five years

Tony started a small business and was too busy to consider saving for
retirement. Tony sold the business for $550,000 when he was 55 years old. He thought
he could fund his retirement, because this was a lot more than his friend had
amassed in his account. Tony can invest this total sum and earn 10 percent per
year. How much will his investment be worth in five years?
Topic: Investing
Early
Level of difficulty: Easy