How much money must the engineer set aside in the project

Reference no: EM13222314

A young engineer wishes to become a millionarie by the time he is 60 years old. He believes that by careful investment he can obtain a 15% rate of return. He plans to add a uniform sum of money to his investment program each year, beginning on his 20th birthday and continuing through his 59th birthday. How much money must the engineer set aside in his project each year?

Reference no: EM13222314

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