you plan to save 600 a month for the next 30 years for retirement. What interest rate would you need to have for 1,000,000 at retirement?

asked Nov 15, 2021 134k views

2 votes

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2 votes

Answer:

About 463%

Explanation:

600*12= 7200

7200*30= 216000

1,000,000/ 216000 = about 4.63

Check:

4.63*216000= 1,000,080

Thanh Dao answered Nov 20, 2021

3.2k points

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