Question

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?

Answer 1

About 463%

Explanation:

600*12= 7200

7200*30= 216000

1,000,000/ 216000 = about 4.63

Check:

4.63*216000= 1,000,080