Assume the real rate of return is 3.05% and the inflation rate is 3.99%. Find...
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Assume the real rate of return is 3.05% and the inflation rate is 3.99%. Find the nominal rate of return using the exact formula. If Derek plans to deposit $14,504.00 into his retirement account on each birthday beginning with his 26th and the account earns 4.00%, how long will it take him to accumulate $2,598,633.00? Derek can deposit $19,360.00 on each birthday beginning with his 27.00th and ending with his 67.00th. What will the rate on the retirement account need to be for him to have $3,258,142.00 in it when he retires?
If Derek plans to deposit $14,504.00 into his retirement account on each birthday beginning with his 26th and the account earns 4.00%, how long will it take him to accumulate $2,598,633.00?
Derek can deposit $19,360.00 on each birthday beginning with his 27.00th and ending with his 67.00th. What will the rate on the retirement account need to be for him to have $3,258,142.00 in it when he retires?
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