You have some savings in a bank which is earning a 3 . 5 % rate of
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Question:
You have some savings in a bank which is earning a rate of interest. You want to begin a retirement fund for yourself by investing in the stock market. You believe you will need $ to retire at your target date, twentyseven years from now. You know that a longterm investment in a stock fund has typically paid a per year return and you can invest in this fund. How much must vou withdraw from your savings account and invest today in the stock fund to realize the $ twentyseven years from now?
Related Book For
Discrete Mathematics and Its Applications
ISBN: 978-0073383095
7th edition
Authors: Kenneth H. Rosen
Posted Date: