Question
What effective annual rate (EAR) of return would Grandma Zoe need to earn if she deposits $1,000 per month into an account beginning one month
What effective annual rate (EAR) of return would Grandma Zoe need to earn if she deposits $1,000 per month into an account beginning one month from today in order to have a total of $1,000,000 in 20 years?
| 11.74%
| ||
| 12.08%
| ||
| 12.77% | ||
| 13.21% |
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Personal Finance
Authors: Jane King, Mary Carey
2nd Edition
0198748779, 9780198748779
