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2 years ago

7

John saved $50,000. and wants to put the money into an Index Annuity that pays an average of 8.4% per year, compounded semi-annu

ally. How long will it take him to reach his goal of $1,000,000?

1 answer:

Oliga [24]2 years ago

6 0

Answer:

Divide 50,000 by 8.4...get that number and add it to the 50,000, divide again by 8.4 and add back, repeat until you reach 1,000,000... happy adding

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