40000 * (1.09 ^ 70) = $16,669,203.
The first calculation uses 7%. It is the real return. You'll actually have $16m, but the purchasing power would be $4.5m in 2021 dollars.
40000 * (1.09 ^ 70) = $16,669,203.
The first calculation uses 7%. It is the real return. You'll actually have $16m, but the purchasing power would be $4.5m in 2021 dollars.