Will wants to retire a millionaire

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Reference no: EM132005660

1. Will wants to retire a millionaire. How much must he save monthly to have $1,000,000 when he retires in 47 years if he earns 8% annually?

A - 177

B - 161

C - 1,101

D - 2,208

2. Truman plans to invest $2,000 every year from now until he retires in 40 years. If he can earn 7% annually on his invested funds, how much will he have when he retires?

A - 29,949

B - 85,600

C - 399,270

D - 429,219

Reference no: EM132005660

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