Dream of exploring the world

Reference no: EM13815393

Sim suddenly inherited a sum of 1000000 when his parents died in a airplane crash,he currently earns 15 an hour and works approximately 5o hours a week for 52 weeks a year, he gets two weeks of paid vacation every year. the overtime wage is 150% of regular hourly wage.

He would like to get an equivalent income from his inheritance. He found he could invest money safely to get an interest of 5% per year for the rest of his life. Determine if he will be a financial position to quit his job and pursue his dream of exploring the world.

Reference no: EM13815393

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