Sources of retirement income include Social Security, other public ____ plans, employer pension plans, personal retirement plans
1 answer:
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Answer:
It take to reach your goal is 11 years
Explanation:
given data
initial fixed amount = $42,180.53
deposit additional = $5,000
account totals = $250,000
expect to earn r = 12%
solution
we will apply Future value of annuity that is express as
Future value of annuity = initial fixed amount × + deposit additional ×
......................a
put here value and we get
solve it we get
time t = 11
so it take to reach your goal is 11 years