Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. if you currently have$200’000 in your retir

If you currently have$200’000 in your retirement account , and plan to contribute $10,000 per year...

70.2K

Verified Solution

Question

Finance

If you currently have$200’000 in your retirement account , andplan to contribute $10,000 per year and can earn 8%(annually) , howlong will it take you to reach your goal of $1,000,000?

Answer & Explanation Solved by verified expert
3.8 Ratings (403 Votes)
SEE THE IMAGE ANY    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

How many distict prime factors does 2031120 have?a prime factor of 2031120. What is its...

Algebra
Q

Halifax Manufacturing allows its customers to return merchandisefor any reason up to 90 days...

Accounting
Q

Name the primary tissue type (epithelial, connective, muscle, or nervous) that is described.1. Cells contain...

Biology
Q

1 2R R 2 R 2R 3 R 2R The magnetic needle of a tangent...

Physics
Q

The area of a rectangle is 44 m and the length of the rectangle is...

Basic Math
Q

The distribution of wages at a company is right skewed with outliers at high values...

Basic Math
Q

5 Consider the network of one way roads depicted in the figure below where the...

Algebra
Q

Rewrite the complex number 8e^1.5i in a + bi form

Algebra
Q

P3.A: Taxpayer trades $2,000,000 of assets (FMV) for a new asset. His basis is 3,000,000....

Accounting
Q

Exercise 7-13 Honoring a note LO P4 Following are selected transactions for Vitalo Company. Nov....

Accounting
Q

Woods Construction has the following account balances at the end of the year. Required: Use...

Accounting
Q

i need answers asap please ...

Accounting