Retire until his retirement account has a balance

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Reference no: EM131314929

Sam refuses to retire until his retirement account has a balance of at least $ 387,687 . Sam refuses to make any more deposits in the account. The account currently has a balance of $ 101,643 and earns 6% per year, compounded semi-annually. How long does Sam have before he will retire?

Reference no: EM131314929

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Retire until his retirement account has a balance : Sam refuses to retire until his retirement account has a balance of at least $ 387,687 . Sam refuses to make any more deposits in the account. The account currently has a balance of $ 101,643 and earns 6% per year, compounded semi-annually. How long ..

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