Question
3.You want to save enough money to retire as a millionaire. (show all work please) a. If you could earn 10% with common stocks, how
3.You want to save enough money to retire as a millionaire. (show all work please)
a. If you could earn 10% with common stocks, how much would you have to set aside per year to have $1,000,000 when you are 65? Please use your own age. (Im 21 now, so a 44 year difference)
b. If you were going to make deposit monthly, how much would you have to set aside per month to have $1,000,000 when you are 65? Please use your own age.
c. If you were able to earn 11%, how much would you have to set aside per month to have $1,000,000 when you are 65? Please use your own age.
d. What type of a problem is this? ___________
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