You have $50,000 in savings for retirement in an investment earning 6% annually. You aspire to have

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You have $50,000 in savings for retirement in an investment earning 6% annually. You aspire to have $1,000,000 in savings when you retire. Assuming you add no more to your savings, how many years will it take to reach your goal?

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Personal Finance Turning Money into Wealth

ISBN: 978-0134730363

8th edition

Authors: Arthur J. Keown

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Posted Date: May 16, 2023 02:43 AM

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You have $50,000 in savings for retirement in an investment earning 6% annually. You aspire to have

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We can use the compound interest formula to calculate the number of yea... View the full answer

Personal Finance Turning Money into Wealth

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