Friday 23 February 2018

You are now 25 years old and just beginning to save for your retirement. If your retirement account will earn 7%


You are now 25 years old and just beginning to save for your retirement. If your retirement account will earn 7% per year with monthly compounding, how much do you need to invest each month so that you can retire at 60 years old with $2million in your retirement account? A. $1110 B. $855 C. $960 D. $1305 E. $1260

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