After graduation, you enter the military and become an officer. 20 years later you can retire and begin a second career, at which time you intend to start your own small business. You estimate that you will need $200,000 saved with which to start the business. When you graduate, you are given $25,000 in graduation gifts that you will invest at 6% annually.

 How much additional money must you set aside at the end of each year for the 20 years that you are a military officer to meet your goal of $200,000 when you retire and start your business?

Answer rating: 100% (QA)

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