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RATE OF RETURN. You have a retirement portfolio with a current balance of $10,000. You plan to retire 50 years from now. Each MONTH, you
RATE OF RETURN. You have a retirement portfolio with a current balance of $10,000. You plan to retire 50 years from now. Each MONTH, you plan to invest $100 into the portfolio until you retire. Calculate your rate of return, r, if you desire to have $2 million in your portfolio upon retirement. Remember to annualize your rate of return after calculation.
1.096% | ||
9.59% | ||
13.15% | ||
14.32% | ||
None of the above |
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