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Suppose you start a retirement savings plan when you are 26 years old and want to retire with $4,500,000 at age 64. If you invest

  • Suppose you start a retirement savings plan when you are 26 years old and want to retire with $4,500,000 at age 64. If you invest in an account paying 4.5 percent, compounded monthly, and you make monthly payments, how much money will you need to put away every month in order to retire with $4,500,000?
  • What is the total amount of money that you invest in this account over your active years (the years you were employed)?
  • Suppose that instead of putting away the money in monthly installments you invest one lump sum at the start and let it accumulate interest for 38 years in this account. How much money would you need in this lump sum in order to have $4,500,000 after 38 years?
  • Suppose that you decided to invest into an account paying 4.85 percent, compounded quarterly, for 28 years and allow the money to stay in the account for another 10 years. How much money will you need to put away every quarter in order to retire with $4,500,000?
  • Suppose you start a retirement savings plan when you are 26 years old and want to retire with $4,500,000 at age 64. If you invest in an account paying 4.5 percent, compounded monthly, and you make monthly payments, how much money will you need to put away every month in order to retire with $4,500,000?
  • What is the total amount of money that you invest in this account over your active years (the years you were employed)?
  • Suppose that instead of putting away the money in monthly installments you invest one lump sum at the start and let it accumulate interest for 38 years in this account. How much money would you need in this lump sum in order to have $4,500,000 after 38 years?
  • Suppose that you decided to invest into an account paying 4.85 percent, compounded quarterly, for 28 years and allow the money to stay in the account for another 10 years. How much money will you need to put away every quarter in order to retire with $4,500,000?
  • Suppose you start a retirement savings plan when you are 26 years old and want to retire with $4,500,000 at age 64. If you invest in an account paying 4.5 percent, compounded monthly, and you make monthly payments, how much money will you need to put away every month in order to retire with $4,500,000?
  • What is the total amount of money that you invest in this account over your active years (the years you were employed)?
  • Suppose that instead of putting away the money in monthly installments you invest one lump sum at the start and let it accumulate interest for 38 years in this account. How much money would you need in this lump sum in order to have $4,500,000 after 38 years?
  • Suppose that you decided to invest into an account paying 4.85 percent, compounded quarterly, for 28 years and allow the money to stay in the account for another 10 years. How much money will you need to put away every quarter in order to retire with $4,500,000?
  • Suppose you start a retirement savings plan when you are 26 years old and want to retire with $4,500,000 at age 64. If you invest in an account paying 4.5 percent, compounded monthly, and you make monthly payments, how much money will you need to put away every month in order to retire with $4,500,000?
  • What is the total amount of money that you invest in this account over your active years (the years you were employed)?
  • Suppose that instead of putting away the money in monthly installments you invest one lump sum at the start and let it accumulate interest for 38 years in this account. How much money would you need in this lump sum in order to have $4,500,000 after 38 years?
  • Suppose that you decided to invest into an account paying 4.85 percent, compounded quarterly, for 28 years and allow the money to stay in the account for another 10 years. How much money will you need to put away every quarter in order to retire with $4,500,000?

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