Question
An 18-year-old already has $1,000 in savings and expect a 10% rate of return and 3% inflation rate. How much do they need to save
An 18-year-old already has $1,000 in savings and expect a 10% rate of return and 3% inflation rate. How much do they need to save each month to have a total of $1,000 by the age of 65 after inflation?
A. $350-399 B. $400-449 C. $450-499 D. $500 or higher
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Introductory Course On Financial Mathematics
Authors: M V Tretyakov
1st Edition
1908977388, 978-1908977380
