Wayne will need $1,250,000 in his retirement fund in 40 years at the time of his retirement. If Wayne can earn 8% annually over this period, how much does Wayne need to save annually to meet that goal? ( Round the answer to the nearest dollar.)

Wayne will need $1,250,000 in his retirement fund in 40 years at the time of his retirement. If Wayne can earn 8% annually over this period, how much does Wayne need to save annually to meet that goal? ( Round the answer to the nearest dollar.)

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 39P

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