$7$

You feel that you will need $$3\mathrm{.}2$ million in your retirement account and when you reach that amount, you plan to retire. You feel you can earn an APR of $10\mathrm{.}7$ percent compounded monthly and plan to save $$455$ per month until you reach your goal. How many years will it be until you reach your goal and retire?

Multiple Choice

$39\mathrm{.}00$ years

$33\mathrm{.}43$ years

$40\mathrm{.}87$ years

$36\mathrm{.}00$ years