You are considering a retirement strategy of saving $375 per month until you retire 32 years from now. You will be making these monthly deposits in a savings account that pays 3.5%, compounded daily. How much will you have at retirement? If you plan a retirement of 25 years.

How much monthly income will your retirement savings generate, assuming that it will be completely depleted at the end of 25 years?

Answer rating: 100% (QA)

To calculate how much you will have at retirement we can use the future value of an ordinary annuity ... View the full answer