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You have 32 years left until retirement and you want to retire with $5,000,000 saved. You plan to deposit 1,200 dollars into the account each month beginning one month from today. You currently have $100,000 saved. Calculate the rate of return (APR) you would have to earn to reach your retirement goal.

User Voivoid
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1 Answer

3 votes

Answer:

APR is 0.0947 at 12%

Step-by-step explanation:

Check attached file

You have 32 years left until retirement and you want to retire with $5,000,000 saved-example-1
User Rich Drummond
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