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You are saving for retirement. To live comfortably, you decide you will need to save 54 million by the time you are 65 Today is
You are saving for retirement. To live comfortably, you decide you will need to save 54 million by the time you are 65 Today is your 31st birthday, and you dede starting today and continuing on every birthday up to and including your 65th birthday that you will put the same amount into a savings account of the interest rate is 10% how much must you set aside each year to make sure that you will have S4 million in the account on your 65th birthday? The amount to deposit each year is (Round to the nearest dollar)
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