Question
Mary's 25th birthday is today, and she hopes to retire on her 65th birthday. She has determined that she will need to have $1,000,000 in
Mary's 25th birthday is today, and she hopes to retire on her 65th birthday. She has determined that she will need to have $1,000,000 in her retirement savings account in order to live comfortably. Mary currently has no retirement savings, and her investments will earn 4% annually. How much must she deposit into her account at the end of each of the next 40 years to meet her retirement savings goal?
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Handbook Of The Fundamentals Of Financial Decision Making
Authors: Leonard C MacLean, William T Ziemba
1st Edition
9814417343, 978-9814417341
