You are saving for retirement. To live comfortably, you decide you will need to save $ 1million by the time you are 65. Today is your 29 th birthday, and you decide, starting today and continuing on every birthday up to and including your 65 th birthday, that you will put the same amount into a savings account. If the interest rate is 8 % , how much must you set aside each year to make sure that you will have $ 1million in the account on your 65 th birthday?
+4
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “You are saving for retirement. To live comfortably, you decide you will need to save $ 1million by the time you are 65. Today is your 29 th ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.