You believe you will need 3.9 million in your retirement account, and when you reach that amount, you plan to retire. You can earn an APR of 9.33 percent compounded monthly, and plan on saving 560 per month until you reach your goal. How many years will it be until you reach your goal and retire?

Answer rating: 100% (QA)

This is a future value of a series problem We can use the following formula to solve it FV PMT 1 r... View the full answer