Question
How many months do you need to work to have enough money to retire? Assume you want $1,000,000 to retire, you currently do not have
How many months do you need to work to have enough money to retire? Assume you want $1,000,000 to retire, you currently do not have any savings, but starting next month, you will be able to make monthly deposits of $500 into your retirement account that returns on average 5.5% per year compounded monthly.
Question 18 options:
|
| 507 months |
|
| 88 months |
|
| 1056 months |
|
| 782 months |
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Finance Fundamentals For Nonprofits
Authors: Woods Bowman
1st Edition
1118004515, 9781118004517
