Question
You have 40 years left until retirement and you want to retire with $3,350,000 saved. You plan to deposit 400 dollars into the account each
You have 40 years left until retirement and you want to retire with $3,350,000 saved. You plan to deposit 400 dollars into the account each month beginning one month from today.You currently have $10,000 saved.Calculate the rate of return (APR) you would have to earn to reach your retirement goal. (Enter percentages as decimals and round to 4 decimals)
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Financial Markets and Institutions
Authors: Frederic S. Mishkin, Stanley G. Eakins
5th edition
321280299, 321280296, 978-0321280299
