How Long Would It Take for You to Save an Adequate

question 63

Multiple Choice

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 today that pays 12 percent per year if you wish to have a total of $1,000,000 at retirement?

• A) 12.2 years
• B) 10.5 years
• C) 14.8 years
• D) 11.5 years

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