Question
At age 35 you decide to start saving for retirement. You wish to retire at age 65 and you expect to need an income of
At age 35 you decide to start saving for retirement. You wish to retire at age 65 and you expect to need an income of $2,000 per month for 20 years. If your savings earns an interest rate of 8% per year, compunded monthly, how much will you need to save per month in order to reach your retirment goal?
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
15th edition
77861612, 1259194078, 978-0077861612, 978-1259194078
