(LO 9-3) If you hope to retire in 40 years with $4 million saved, expect to get...

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(LO 9-3) If you hope to retire in 40 years with $4 million saved, expect to get a 10%

annual return, and you have $20,000 currently saved, how much would you need to save each year? Use the Excel PMT() function to calculate how much you need to save each year. (Hint: As part of the Excel PMT() function, assume that PV=$20,000 and FV=4000000)

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Introduction To Data Analytics For Accounting

ISBN: 9781266358234

2nd Edition

Authors: Vernon Richardson, Katie Terrell And Ryan Teeter

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