A client needs assistance with retirement planning. Here are the facts: The client, Dave, is 21
Question:
Here are the facts:
• The client, Dave, is 21 years old. He wants to retire at 65.
• Dave has disposable income of $2,000 per month.
• The IRA Dave has chosen has an average annual return of 8%.
If Dave contributes half of his disposable income to the account, what will it be worth at 65? How much would he need to contribute to have $5,000,000 at 65?
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Related Book For
Financial Markets And Institutions
ISBN: 978-0132136839
7th Edition
Authors: Frederic S. Mishkin, Stanley G. Eakins
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