If you currently have$200’000 in your retirement account , and plan to contribute $10,000 per year...

70.2K

Verified Solution

Question

Finance

If you currently have$200’000 in your retirement account , andplan to contribute $10,000 per year and can earn 8%(annually) , howlong will it take you to reach your goal of $1,000,000?

Answer & Explanation Solved by verified expert
3.8 Ratings (403 Votes)
SEE THE IMAGE ANY    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students