20-year old woman wants to retire as a millionaire by the time she turns 50. How much will she have to save at the end of each year if she can earn 5% compounded annually, to have $100,000 by the time she is 50?
20-year old woman wants to retire as a millionaire by the time she turns 50. How much will she have to save at the end of each year if she can earn 5% compounded annually, to have $100,000 by the time she is 50?
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter27: Time Value Of Money (compound)
Section: Chapter Questions
Problem 8E
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A 20-year old woman wants to retire as a millionaire by the time she turns 50. How much will she have to save at the end of each year if she can earn 5% compounded annually, to have $100,000 by the time she is 50?
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