Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. your discussion is to tell me how much you should

Your discussion is to tell me how much you should start investing now each month...

70.2K

Verified Solution

Question

Finance

Your discussion is to tell me how much you should start investing now each month to have a cool million by retirement. Tell me your starting age, the rate of return on your investment - use 7% for this exercise and how much the calculator shows you will need to save per month to be a millionaire by 65.
Make use of the power of compound interest in your financial life rather than letting the bank use compound interest against you through credit cards, mortgages and automobile loans. Compound interest is an amazing tool if you put away 10% of your income away for retirement. When retirement occurs, you could do just about anything that you ever wanted just let it work for you and not somebody else.
image

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

Basic Math
1.2K views

on 5 7 3 55 Part 1 of 2 The formulas below are the cost...

Chemistry
1.2K views

1.Define facilitated diffusion. Compare and contrast diffusion and facilitated diffusion. a.Give an example of a molecule that crosses...

Basic Math
1.2K views

Find the area of the circle. Find the solution into decimal form rounded to the...

Basic Math
1.2K views

In a class of 107 seniors, 37 students are taking the AP Calculus exam, 39...

Accounting
1.2K views

You have been asked by the owner of your property management company to advise her...

Accounting
1.2K views

Question 3 of 5 0.21 On January 1,2025. Riverbed Company contracts to lease...

Accounting
1.2K views

What is the Sarbanes-Oxley Act of 2002? Why did it come about?

Accounting
1.2K views

Gibson Company is a retail company that specializes in selling outdoor camping equipment. The company...

Accounting
1.2K views

Data Table hdustrial systems line will decrease fixed cost of goods sol rative expenses by...

Accounting
1.2K views

C. e. Identify and list the letter for any of the following assets that would...

Accounting
1.2K views

Research reports of two security breaches: one that occurred in 2014 or later and one...

Finance
1.2K views

Use the above balance sheets to answer the following questions. The questions are unrelated with...