Question

How long would it take for you to save an adequate amount for retirement if you deposit $40,000 per year into an account beginning one year from today that pays 12 percent per year if you wish to have a total of $1,000,000 at retirement?

A. 10.2 years
B. 10.5 years
C. 14.8 years
D. 11.5 years

Answer 1

Answer:14.8 years!!!!!!!!!!!!!!!!!!!

Step-by-step explanation: