Question

Timmy sets himself a goal of amassing $1 million in his retirement fund by the time he turns 61. He begins saving $3,000 each year, starting on his 21st birthday (40 years of saving).
a. If his savings earn 10 percent per year, will Timmy achieve his goal?
b. At what age will the value of Timmy’s savings plan be worth $1 million?



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  • CreatedFebruary 25, 2015
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