2 You have no retirement savings upon graduation from college, but you can afford to save...
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2 You have no retirement savings upon graduation from college, but you can afford to save $4,800 annually at the end of each year until retirement that you plan to take place 43 years from today. If you hope to have $800,000 in savings when you retire, what rate of return must you earn over that time? Goal: Years: Planned annual payment: Required rate of return: 800,000 43 4,800.00 2 You have no retirement savings upon graduation from college, but you can afford to save $4,800 annually at the end of each year until retirement that you plan to take place 43 years from today. If you hope to have $800,000 in savings when you retire, what rate of return must you earn over that time? Goal: Years: Planned annual payment: Required rate of return: 800,000 43 4,800.00
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To determine the required rate of return we can use the future value of an ordinary annuity formula ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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