Saving for retirement, You are saving for retirement. To

Saving for retirement

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Reference no: EM131810962

You are saving for retirement. To live? comfortably, you decide you will need to save $ 2million by the time you are 65. Today is your 26 th?birthday, and you? decide, starting today and continuing on every birthday up to and including your 65 th birthday, that you will put the same amount into a savings account. If the interest rate is 10 % how much must you set aside each year to make sure that you will have $ 2million in the account on your 65 th ?birthday?

Reference no: EM131810962

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