Wayne will need $1,250,000 in his retirement fund in 40 years at the time of his retirement. If Wayne can earn 8% annually over this period, how much does Wayne need to save annually to meet that goal? ( Round the answer to the nearest dollar.)

Wayne will need $1,250,000 in his retirement fund in 40 years at the time of his retirement. If Wayne can earn 8% annually over this period, how much does Wayne need to save annually to meet that goal? ( Round the answer to the nearest dollar.)

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 12E

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