Question
Sawyer and Mark plan to retire in 45 years and want to have $4,000,000 at the time of their retirement. If they can earn 6%
Sawyer and Mark plan to retire in 45 years and want to have $4,000,000 at the time of their retirement. If they can earn 6% annually on their funds, how much do they need to save monthly? They are starting with no money saved.
| A. | $1,451 | |
| B. | $88,889 | |
| C. | $7,407 | |
| D. | $18,802 | |
| E. | $21,451 |
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Financial Reporting And Statement Analysis A Strategic Approach
Authors: Clyde P. Stickney, Paul Brown, James M. Wahlen
5th Edition
032418638X, 978-0324186383
