You have decided to retire in 34 years and you want to have $2,150,000 in the bank at that point. You currently have $65

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

You have decided to retire in 34 years and you want to have $2,150,000 in the bank at that point. You currently have $65

Post by answerhappygod »

You have decided to retire in 34 years and you want to have
$2,150,000 in the bank at that point. You currently
have $65,500 in the bank. The bank is paying 4.00% interest,
compounded yearly.
How much money do you need to deposit in your bank account each
year in order to meet your retirement goal?
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Top
Post Reply

Return to “Archived Questions & Answers”