You already have $53,000 in your savings account. You decided that you need to have $900,262 in

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You already have $53,000 in your savings account. You decided that you need to have $900,262 in your savings account when you retire, which is 22 years from today. You can save $3,900 quarterly, for the next 22 years.

What return return would result in $900,262 in your savings account when you retire 22 years from today?

Related Book For answer-question

Fundamentals of Investing

ISBN: 978-0133075359

12th edition

Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk

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Posted Date: Jul 12, 2023 05:45 AM

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You already have $53,000 in your savings account. You decided that you need to have $900,262 in

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Expert Answer:

To calculate the required return we can use the future value formula for c... View the full answer

Fundamentals of Investing

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