Question
Your friend currently has $20,000 in an IRA (Individual Retirement Account) and estimate that it will earn 6%/year. She is now 30 years old and
Your friend currently has $20,000 in an IRA (Individual Retirement Account) and estimate that it will earn 6%/year. She is now 30 years old and plans to retire when she is 65 years old. If she wants $1,000,000 in the account in 35 years, how much more does she have to deposit every year to have the $1,000,000 total?
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Financial Management Principles And Applications
Authors: Arthur J. Keown, J. William Petty, John D. Martin, Jr. Scott, David F.
10th Edition
0131450654, 9780131450653
