1. You believe you need $500,000 when you retire in 35 years. You have already saved up $5,000. You estimate you’ll earn 6% annually (with annual compounding). How much should you set aside each year in order to meet your goal? Use equations, not Excel.

Answer rating: 100% (QA)

To calculate how much you should set aside each year to reach your retirement goal you ca... View the full answer