Other Math

At age 38 ​, you start saving for retirement. If your investment plan pays an APR of ​4% and you want to have ​$1.1 million when you retire in ​years, how much should you deposit​ monthly?

EXPERT ANSWER In the above question we are not given the age of retirement , so assuming the age of 60 years for thr retirement we make the calculations here. Also we are not given the amount of money or saving one can afford to invest . Now APR is = 4 % , we …

At age 38 ​, you start saving for retirement. If your investment plan pays an APR of ​4% and you want to have ​$1.1 million when you retire in ​years, how much should you deposit​ monthly? Read More »