Author Question: Assume your goal in life is to retire with 1 million dollars. How much would you need to save at the ... (Read 36 times)

itsmyluck · **on:** Mar 6, 2021

Question 1

Assume your goal in life is to retire with $2,800,000. How much would you need to save at the end of each year if interest rates average 10% and you have a 30-year work life? (Round the final answer to the nearest whole dollar.)
◦ $9333
◦ $17,022
◦ $186,667
◦ $160,464

Question 2

Assume your goal in life is to retire with 1 million dollars. How much would you need to save at the end of each year if investment rates average 5% and you have a 16-year work life?
◦ $3125
◦ $42,270
◦ $458,112
◦ $125,000

adammoses97 · **Reply #1 on:** Mar 6, 2021

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