An engineer invests $5,800 at the end of every year for a 35-year career. If the engineer want $1 million in savings at retirement, what interest rate must the investment earn?
An engineer invests $5,800 at the end of every year for a 35-year career. If the engineer want $1 million in savings at retirement, what interest rate must the investment earn?
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter6: Saving And Investing
Section: Chapter Questions
Problem 18AA
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