Business, 26.02.2020 23:29 babyskitt

Paul White is 30 years and wants to retire when he is 65. So far he has saved (1) $5,940 in an IRA account in which his money is earning 8.3 percent annually and (2) $5,410 in a money market account in which he is earning 5.25 percent annually. Paul wants to have $1 million when he retires. Starting next year, he plans to invest the same amount of money every year until he retires in a mutual fund in which he expects to earn 8.67 percent annually. How much will Paul have to invest every year to achieve his savings goal

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Paul White is 30 years and wants to retire when he is 65. So far he has saved (1) $5,940 in an IRA a...

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