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You have a goal of building an emergency account. You open the account with $500 and have a goal to build it to 12 months
You have a goal of building an emergency account. You open the account with $500 and have a goal to build it to 12 months worth of living expenses. You figured you could live for one year off $55,000. How many years, will it take you to reach your goal if interest compounds annually at 6% and you are putting $1,000 into the account each year? (Round your answer to the nearest year)
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To calculate the number of years it will take to reach the goal we can use the future value formula ...
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Project Management The Managerial Process
Authors: Eric W Larson, Clifford F. Gray
8th Edition
1260570436, 978-1260570434
