Question
You plan to retire in 20 years and want to have $1,000,000 in your retirement account. You expect to earn an average annual rate of
You plan to retire in 20 years and want to have $1,000,000 in your retirement account. You expect to earn an average annual rate of return of 7% on your investments. If you make a monthly deposit into the account, how much should you contribute each month to reach your goal?
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Principles Of Managerial Finance
Authors: Lawrence J. Gitman, Chad J. Zutter
13th Edition
9780132738729, 136119468, 132738724, 978-0136119463
