question 8 of 8\nstarting amount: $500, years to invest: 40, additional contributions: $100 per month…

question 8 of 8\nstarting amount: $500, years to invest: 40, additional contributions: $100 per month, average annual rate of return: 7.6% compounded annually, total amount invested: 48,500, ending investment balance: $289,279.40.\nthis demonstrates why its important to______.\nstart with a large amount of savings\nsave as much as you can every single month\navoid retirement until youre 75\nlet your savings grow over time

question 8 of 8\nstarting amount: $500, years to invest: 40, additional contributions: $100 per month, average annual rate of return: 7.6% compounded annually, total amount invested: 48,500, ending investment balance: $289,279.40.\nthis demonstrates why its important to______.\nstart with a large amount of savings\nsave as much as you can every single month\navoid retirement until youre 75\nlet your savings grow over time

Answer

Brief Explanations:

The starting amount is relatively small ($500), the monthly contribution is $100, but over 40 - year period with compound - interest, the ending balance is large ($289,279.40). This shows the power of long - term growth of savings.

Answer:

let your savings grow over time