An investor wants to retire in 25 years and has a current savings of $100,000. They plan
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An investor wants to retire in 25 years and has a current savings of $100,000. They plan to contribute $10,000 annually to their retirement fund and expect the fund to grow at an average annual rate of 8%. Calculate the total savings the investor will have in 25 years and the amount they will need to save each year to reach their goal of $1,000,000 in retirement savings.
Related Book For
South-Western Federal Taxation 2018 Comprehensive
ISBN: 9781337386005
41st Edition
Authors: David M. Maloney, William H. Hoffman, Jr., William A. Raabe, James C. Young
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