Question
You want to retire in 20 years. You currently have $200,000, and think you will need $1.5 million at retirement. What annual interest rate must
You want to retire in 20 years. You currently have $200,000, and think you will need $1.5 million at retirement.
What annual interest rate must you earn to reach your goal, assuming you don't save any additional funds?
What annual interest rate must you earn if you can contribute an additional $5,000 per year?
What annual interest rate must you earn if you can contribute an additional $15,000 per year?
You want to retire in 30 years. You currently have $500,000, and think you will need $2.5 million at retirement. What annual interest rate must you earn to reach your goal, assuming you don't save any additional funds?
What annual interest rate must you earn if you can contribute an additional $7,500 per year?
What annual interest rate must you earn if you can contribute an additional $13,000 per year?
Formulas and Excel set up is appriciated.
Thanks!
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De Gruyter Handbook Of Personal Finance
Authors: Grable, John E., Chatterjee, Swarn
1st Edition
3110727498, 978-3110727494
