Question 13 (3 points) At retirement in 40 years, an investor decides $2,000,000 in total...
80.2K
Verified Solution
Link Copied!
Question
Finance
Question 13 (3 points) At retirement in 40 years, an investor decides $2,000,000 in total will be needed. The investor has $30,000 currently saved. If the investor plans on contributing an additional $5,000 at the end of each year, approximately what rate of return will be needed? 1) less than 5% 2) 8% 3) 10% 4) 12% 5) 18%
Answer & Explanation
Solved by verified expert
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!
