Question
A bond is a ____ asset and a share of stock is a _____ asset. Mike wants to have $3,500,000 in his 401(K) when he
A bond is a ____ asset and a share of stock is a _____ asset.
Mike wants to have $3,500,000 in his 401(K) when he retires in 30 years. If he expects his 401(K) can earn 4.23% annual interest, about how much must Mike invest each year to reach his retirement goal?
| $72,412 | ||
| $60,046 | ||
| $50.865 | ||
| $43,524 |
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M: Finance
Authors: Marcia Cornett, Troy Adair, John Nofsinger
5th Edition
1260772357, 9781260772357
