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Today is your birthday and you are ecstatic because your granny gives you $20,000 to jumpstart your retirement savings. You have access to an account
Today is your birthday and you are ecstatic because your granny gives you $20,000 to jumpstart your retirement savings. You have access to an account with a mutual fund that offers you an APR of 6% with monthly compounding. You plan to retire at age 70 and you expect to live for 15 years, until age 85. You would like $10,000 at the beginning of every month to live a comfortable retirement. After careful planning, you decide to also contribute $209.19 at the end of every month until you retire to ensure you can meet your retirement goals. What birthday are you celebrating today? Please type in your calculator/Excel inputs and the final solution.
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