You want to be a millionaire when you retire in 35 years. How much do you...

You want to be a millionaire when you retire in 35 years. How much do you have to save each month if you can earn an annual return of 11.5 percent? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Savings per month $ How much do you have to save each month if you wait 15 years before you begin your deposits? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Savings per month $ How much do you have to save each month if you wait 25 years before you begin your deposits? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Savings per month $

Expert Solution

Calculations-

As no. specific method was mentioned,I have solved the question with excel functions.

Please upvote if the ans is helfpul.In case of doubt,do comment.Thanks.

jeff jeffy answered 2 years ago

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