Question
Assume that you are now 20 years old. You would like to retire at age 60 and have a retirement fund of $6,000,000 at the
Assume that you are now 20 years old. You would like to retire at age 60 and have a retirement fund of $6,000,000 at the time of your retirement. You have already $10,000 at age 20 in the retirement account. You expect to earn 6% per year. The amount of money you must set aside each month to reach your retirement goal is:
| A. | $2500.00 | |
| B. | $3067.84 | |
| C. | $4,377.98 | |
| D. | $3500.00 |
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Financial Management For Decision Makers
Authors: Peter Atrill
9th Edition
1292311436, 978-1292311432
