A mechanical engineer, who owns her own consulting business, plans to retire when she has accumulated...
A mechanical engineer, who owns her own consulting business, plans to retire when she has accumulated $1,500,000. She estimates that she can invest $25,000 per year with an interest rate of 15% per year. If she is now 22 years old, what is her age when she retires? Draw a cash flow diagram as well. (Be sure to label both axis with correct units.)
- please neatly draw cash flow diagram as well as clearly labeling both axis with correct unit. The answer for her retirement age should come out to be around 38.5/39 years old.
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