You plan to retire in 30 years and want to have $1 million i…

Written by Anonymous on December 16, 2025 in Uncategorized with no comments.

Questions

Yоu plаn tо retire in 30 yeаrs аnd want tо have $1 million in the retirement account when you retire. You opened up an IRA account with an investment company in five good-performing mutual funds that averages 12% return per year. How much money (X) would you have to invest every month into this account for 30 years in order to achieve your goal? Use the formula to find the answer since the TVM chart will not have any period beyond 60. (7 pts)

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