Krystal is 47 years old and single. She is a high school principal, making $75,000 a year.
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Krystal is 47 years old and single. She is a high school principal, making $75,000 a year. She currently owns a 401(k) valued at $85,000. Krystal would like to retire at age 65 with $1.2 million in her retirement nest egg. She plans to contribute $12,000 a year to her retirement fund, growing at 10%.
1. Will Krystal reach her goal? Justify your answer by using the Investment Calculator on Foundations U.
2. If she won't reach her goal, what needs to change in order for her to reach it?
3. Is it really possible to get 10% growth in an investment fund? How?
Related Book For
Vector Mechanics for Engineers Statics and Dynamics
ISBN: 978-0073398242
11th edition
Authors: Ferdinand Beer, E. Russell Johnston Jr., David Mazurek, Phillip Cornwell, Brian Self
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