How much would someone need to save per month if they earned an eight percent rate...

How much would someone need to save per month if they earned an eight percent rate of return and wanted $1,000,000 to retire at 55 years old?

What if they started at 20 years old (monthly payments for 35 years at 8%)?

What if they started at 30 years old (monthly payments for 25 years at 8%)?

What if they started at 40 years old (monthly payments for 15 years at 8%)?

Expert Solution

a)

b)

jeff jeffy answered 1 year ago

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