Mr. Wise is retiring in 25 years. He would like to accumulate $1,000,000 for his retirement fund by then. He p
Mr. Wise is retiring in 25 years. He would like to accumulate $1,000,000 for his retirement fund by then. He plans make equal monthly payments to achieve his goal. If the rate of return on the retirement fund is 12%, what will his monthly payments be?
Public Comments
- Does he have any money currently invested? I will assume he doesn't. 25yrs @ 12% ROI Would yeild a monthly investment of $524.66
- your missing a peice of info in thisbut im not sure wat it is at this moment ill come bac l8ter
- Working back the monthly contribution to his retirement fund would be $558 & 35 cents monthly for the entire 25 year period and finally he would get $1,000,003. Hey geetha mail me.
