if I have 198 months until I retire and expect a 7% annual return on my...

if I have 198 months until I retire and expect a 7% annual return on my investments, how much must I save each month to accomplish my retirement goal of $7,500 per month for 30 years (please show work so I can follow and understand)?

Expert Solution

First we need ot find out the Present value of retirement goal at the time of retirement.

After that we need to find out how much to save monthly to achieve that amount at the time of retirement.

Formula:

jeff jeffy answered 2 years ago

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