Question
You believe you will need to have saved $503,000 by the time you retire in 40 years in order to live comfortably. You also believe
You believe you will need to have saved $503,000 by the time you retire in 40 years in order to live comfortably. You also believe that you will inherit $120,000 in 10 years. (Do not round intermediate calculations. Leave no cells blank - be certain to enter "0" wherever required. Round your answers to 2 decimal places.) If the interest rate is 5% per year, what is the future value of your inheritance at retirement? How much additional money must you save to meet your retirement goal, assuming you save your entire inheritance?
Future Value ______?
How much additional money must you save to meet your retirement goal, assuming you save your entire inheritance?
Adicional service _____?
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Financial Institutions Management
Authors: Anthony Saunders, Marcia Cornett
8th Edition
0078034809, 978-0078034800
