You are a well-paid engineer with a well-established international corporation. In planning for your retirement, you are
Question:
You are a well-paid engineer with a well-established international corporation. In planning for your retirement, you are optimistic and expect to make an investment of $10,000 in year 1 and increase this amount by 10% each year. How long will it take for your account to have a future worth of $2,000,000 at a rate of return of 7% per year?
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First set up equation to find present worth of 2000000 and set ...View the full answer
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