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14. (a) Starting now, if I save 200 per month, is it possible that I will become a millionaire in my lifetime assuming a 5%
14. (a) Starting now, if I save 200 per month, is it possible that I will become a millionaire in my lifetime assuming a 5% annual growth rate in my investments, compounded annually? (b) Suppose that I manage instead to save 500 per month, is it possible that I will become a millionaire? (c) Suppose now that I can save 500 per month but the effects of inflation imply that the real rate of growth in the value of my investments is only 2%. Will I become a millionaire in todays money terms?
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