Compounding and projected value
I have found this information and I am struggling to get the same numbers when I work it out. I have included annual and monthly compounding but get nowhere near the figures below. Please can someone break this down and explain to me how its worked out?:
Sally
Dan
When beginning to invest, the person is ...
Sally 35 years old
Dan 45 years old
Each person invests
£100/month for ...
Sally invests for 10 years
Dan invests for 20 years
With a 7% rate of return, at age 65, their accounts are worth…
Sally: £135,044.
Voilà - the value of starting early
Dan: £121,287. Even though he invested for twice as long, he's behind by
£15,000
Sally
Dan
When beginning to invest, the person is ...
Sally 35 years old
Dan 45 years old
Each person invests
£100/month for ...
Sally invests for 10 years
Dan invests for 20 years
With a 7% rate of return, at age 65, their accounts are worth…
Sally: £135,044.
Voilà - the value of starting early
Dan: £121,287. Even though he invested for twice as long, he's behind by
£15,000
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