Question
A family needs $1.250,000 in order to retire early. The present value of their portfolio is $265,234 with an average of 8.75% growth realized annually.
A family needs $1.250,000 in order to retire early. The present value of their portfolio is $265,234 with an average of 8.75% growth realized annually. If interest is compounded monthly, how many more years will they need to invest if all things remain the same? Round your answer to two decimal places.
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Financial Markets And Institutions
Authors: Anthony Saunders, Marcia Cornett
4th Edition
0077262379, 978-0077262372
