Q19) You currently have $1,889.00 in a retirement Savings account that earns an annual return of...
Q19) You currently have $1,889.00 in a retirement Savings account that earns an annual return of 12.67% . You want to retire in 40.0 years with 1,000,000. How much more do you need to Save at the end of every year to reach your retirement goal?
Homework Answers
How much more do you need to Save at the end of every year to
reach your retirement goal?
=(1000000/1.1267^40-1889)*12.67%/(1-1/1.1267^40)
=840.39574
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