Clara is setting up a retirement fund, and she plans on depositing $4,200 per year...
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Accounting
Clara is setting up a retirement fund, and she plans on depositing $4,200 per year in an investment that will pay 10% annual interest. How long will it take her to reach her retirement goal of $39,846? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)
Multiple Choice
14 years
.105 years
7 years
3.5 years
9.49 years
#44
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