Inderstand how retirement saving arrangements are associated with tax shelters and investment products.

Application Time! Jessica would like to retire at age $55$ with $$1\mathrm{.}5$ million in her retirement accounts. She has not started investing yet. She is currently $33$ years old. How much does she need invested each year to meet her goal? Utilize the historical return of $10\mathrm{.}38\%$ for your RATE.

Account Balance at Retirement $$ Number of Years to Invest Annual Investment Needed Current Balance in Account