Business, 16.04.2020 02:29 chefjones06p0gvlh

Retirement savings

A couple thinking about retirement decides to put aside $3,000 each year in a savings plan that earns 8% interest. In 5 years, they will receive a gift of $10,000 that also can be invested.

a. How much money will they have accumulated 30 years from now?

b. If the goal is to retire with $800,000 savings, how much extra do they need to save every year?

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Retirement savings

A couple thinking about retirement decides to put aside $3,000 each y...

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