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Your parents will retire in 25 years and currently have $86,000 saved in a retirement account. They think they will be okay with $1,000,000
Your parents will retire in 25 years and currently have $86,000 saved in a retirement account. They think they will be okay with $1,000,000 at retirement since your mom also has a pension and they should both get a little money from Social Security. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? 7.02% 8.36% 8.97% 9.80% E) 10.31% Question 2 10 Points Suppose you receive $300 in graduation money. You decide to put it into an account paying 7%. If you deposit $350 into that same account every month for 5 years, how much money will you have at the end? $21,000.00 B) $21,300.00 $16,195.49 $18,266.53 E) $25,482.80
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