Answered step by step
Verified Expert Solution
Question
1 Approved Answer
If I want to retire in 30 years with a million dollars and I save $10,000 per year, what would the return(interest ) have to
If I want to retire in 30 years with a million dollars and I save $10,000 per year, what would the return(interest ) have to be in order for this to happen?
Useful equation:
Future Value of an Annuity Formula [(1 + i)" - 1] FVA Ordinary = P x (1 + i)" - 1] x (1 + i) FVA Due = P xStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started