You decided to leave your job early and cashed out your pension amount. You currently have $420,000 in the account. If you wish to have $600,000 to retire with, how much time, to the month, must you invest this money if you can earn 5% compounded annually. 

1. 8 years and 8 months 
2. 7 years and 3 months 
3. 7 years and 4 months 
4. 7 years and 6 months 
5. 8 years and 4 months

Answer rating: 100% (QA)

PV 420000 FV 600000 r 5 Annu... View the full answer