Compound Interest Example

Oct 7th, 2015
Price: $5 USD

Question description

Suppose you would like to have a retirement fund from which you can draw an income of $100,000 per year—forever! How much would you need to have invested by the time you retire? Assume an average APR of 6% with one compounding period and round your answer to the nearest dollar.

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(Top Tutor) Kalpana2015
School: UC Berkeley

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