Using the concept of TVM, you can calculate the amount I need to save each year to
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Question:
Using the concept of TVM, you can calculate the amount I need to save each year to reach my retirement savings goal.
Information:
1. Current Age: 30
2. Desired Retirement Age: 65
3. Annual Salary: $65,000
4. Expected Annual Salary Increase: 3%
5. Expected Average Return on Investment: 7%
6. Inflation Rate: 2%
7. Retirement Savings Goal: $1,000,000
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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