You wish to be a millionaire when you retire. You can contribute $150 per month into a superannuation fund that earns 3% per annum starting next month. If you are 35 years old today, how old will you be when you can retire and be a millionaire? Do you think you (or anyone) will live that long?

Answer rating: 100% (QA)

FVA Annuity x 1 r n 1 r 1000000 150 x 1 00312 12 ... View the full answer