Eddie plans on retiring in 40 years by purchasing a house on the coast. He estimates he will need $1,200,000 saved at that time and is starting now. What payment would Eddie need to make yearly into a savings account with a tax-rate of 35% and an average market return of 5%?

Answer rating: 100% (QA)

To calculate the annual savings amount you need in order to reach a specific goal we can use t... View the full answer