Question
You are 30 years old and you want to retire at age 60 with $1.5 million. You are going to make equal annual deposits into
You are 30 years old and you want to retire at age 60 with $1.5 million. You are going to make equal annual deposits into your savings account at the end of each year in order to save up this money. Your savings account pays 8% interest. What amount must you deposit each year?
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Financial Markets And Institutions
Authors: Anthony Saunders, Marcia Cornett
8th Edition
1264098723, 978-1264098729
