Answered: You would like to retire in 50 years as…

You would like to retire in 50 years as a millionaire. If you have $1000 today, what rate of return do you need to achieve your goal?

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 11E

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Question

You would like to retire in 50 years as a millionaire. If you have $1000 today, what rate of return do you need to achieve your goal?

Definition Definition Percentage gain or loss from a specific investment over time. The rate of return is the difference between the closing and initial values of an investment divided by the initial value of the investment. The closing value includes any intermediate cash flows such as dividends or interest amounts.

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