Question
You want to retire in 30 years. You have $5,000 to invest today that you hope will grow to $1,000,000 at retirement. You do not
You want to retire in 30 years. You have $5,000 to invest today that you hope will grow to $1,000,000 at retirement. You do not intend to make additional investments in the future. What annual return must your investment achieve to reach your goal? If you were only able to achieve a 15% return on your money, what would your investment be worth in 30 years?
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Financial Markets and Institutions
Authors: Frederic S. Mishkin, Stanley G. Eakins
5th edition
321280299, 321280296, 978-0321280299
