Question
TVM. You wish to retire 40 years from today. You currently have $40,000 in your retirement portfolio which earns, on average, 8.4% per year. You
TVM. You wish to retire 40 years from today. You currently have $40,000 in your retirement portfolio which earns, on average, 8.4% per year. You wish to accumulate $2,000,000 in your portfolio at the time of retirement. How much more would you need to contribute MONTHLY, if any, in order to attain your retirement goal?
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Introduction to Finance Markets, Investments and Financial Management
Authors: Ronald W. Melicher, Edgar A. Norton
16th edition
1119398282, 978-1-119-3211, 1119321115, 978-1119398288
