Louis is 25 years old and has a dream of having $1,000,000 in his investment account...

  

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Louis is 25 years old and has a dream of having $1,000,000 in his investment account by the time he turns 50. If he invests in a fund that returns 5% per year (and compounds daily), how much does he need to save per day to get to $1,000,000? Sammy is 25 years old and has a dream of having $1,000,000 in his investment account by the time he turns 50. If he invests in a fund that returns 7.5% per year (and compounds weekly), how much does he need to save per WEEK to get to $1,000,000? Louis is 25 years old and has a dream of having $1,000,000 in his investment account by the time he turns 50. If he invests in a fund that returns 5% per year (and compounds daily), how much does he need to save per day to get to $1,000,000? Sammy is 25 years old and has a dream of having $1,000,000 in his investment account by the time he turns 50. If he invests in a fund that returns 7.5% per year (and compounds weekly), how much does he need to save per WEEK to get to $1,000,000?

Answer rating: 100% (QA)

To calculate how much Louis needs to save per day to reach 1000000 by the time he turns 50 with a 5 ... View the full answer