34. Clara is setting up a retirement fund, and she plans on...
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Accounting
34.
Clara is setting up a retirement fund, and she plans on depositing $4,100 per year in an investment that will pay 6% annual interest. How long will it take her to reach her retirement goal of $47,114? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)
Multiple Choice
9 years
18 years
.087 years
11.49 years
4.5 years
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