Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You earn $4,368 income per month. You live frugally and save 13 percent of your income each month and invest it in the S&P 500,

You earn $4,368 income per month. You live frugally and save 13 percent of your income each month and invest it in the S&P 500, which earns 9.45% per year. How many years will it take you to save up a million dollars?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cryptocurrency QuickStart Guide

Authors: Jonathan Reichental

1st Edition

1636100406, 978-1636100401

More Books

Students also viewed these Finance questions

Question

What magazine and ads did you choose to examine?

Answered: 1 week ago