Assume your goal in life is to retire with three million dollars. How much would you...

Transcribed Image Text:

Assume your goal in life is to retire with three million dollars. How much would you need to save at the end of each year if interest rates average 5% and you have a 10-year work life (the closest answer)? PV 1 rate=$0.614; PVArate= 7.72 FVA rate= 12.57 O $300,000 O $1,842,000 O $318,000 O $238,633 O $388,515 Assume your goal in life is to retire with three million dollars. How much would you need to save at the end of each year if interest rates average 5% and you have a 10-year work life (the closest answer)? PV 1 rate=$0.614; PVArate= 7.72 FVA rate= 12.57 O $300,000 O $1,842,000 O $318,000 O $238,633 O $388,515

Answer rating: 100% (QA)

Gual refire with 3 milli How muc... View the full answer