Maryanne hopes to have $643,230 in her retirement account when she retires in 12 years...

90.2K

Verified Solution

Question

Finance

Maryanne hopes to have $643,230 in her retirement account when she retires in 12 years if a retirement account earns 8% compounded semi annually how much does she need to save for each six month period during the next 12 years to reach her goal?
a. none
b. $26,801.25
c. $24,803.35
d. $16,458.21
e. 2, 674.45

Answer & Explanation Solved by verified expert
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