Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You plan to deposit $375 at the end of each month into your Roth IRA for the next 31 years. If you need that fund

image text in transcribed
You plan to deposit $375 at the end of each month into your Roth IRA for the next 31 years. If you need that fund to grow to a balance of $564,500, what annual rate of return do you need to earn on that account during that time period? 6.26% 7.63% 2.14% 0.64%

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

Fundamentals Of Institutional Asset Management

Authors: Frank J Fabozzi, Francesco A Fabozzi

1st Edition

9811220034, 9789811220036

More Books

Students also viewed these Finance questions

Question

Define an unfair labor practice and provide three or four examples.

Answered: 1 week ago