Question
You have $50,000 in savings for retirement in an investment earning a stated annual rate of 12% compounded monthly. You aspire to have $1,000,000 in
You have $50,000 in savings for retirement in an investment earning a stated annual rate of 12% compounded monthly. You aspire to have $1,000,000 in savings when you retire. Assuming you add no more to your savings, how many years will it take to reach your goal?
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Contemporary Financial Management Fundamentals
Authors: R. Charles Moyer, James R. McGuigan, Ramesh P. Rao
1st Edition
0324015771, 9780324015775
