Mrs. Johnson who is 25 years old (Actually today is her birthday ) and plans to retire at the age of 65. She already has $17,500 in her retirement investment account which is expected to yield 9% return per year. Mrs. Johnson would like to have $1.4m in her retirement account when she retires. How much does she need to invest each year in order to reach her goal?

Answer rating: 100% (QA)

To calculate the amount Mrs Johnson needs to invest each year to reach her retirement goal we can us... View the full answer