Investments: Calculate how much you will have to save each month between now and then to have $300,000 in your retirement account when you retire at 65, assuming a rate of return of 5% per year? (Show your final calculations)

Investments: Calculate how much you will have to save each month between now and then to have $300,000 in your retirement account when you retire at 65, assuming a rate of return of 5% per year? (Show your final calculations)

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter17: Retirement And Estate Planning

Section17.2: How To Calculate The Amount You Must

Problem 1CC

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Question

c) Retirement Investment:
Savings at Retirement =
Saving Periods =
Interest Rate =
Savings Deposit / month=
monthly deposits
/ month

c. Investments: Calculate how much you will have to save each month between now and then to have
$300,000 in your retirement account when you retire at 65, assuming a rate of return of 5% per year?
(Show your final calculations)

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