EEC 2304 – Calculate the monthly savings required to build a portfolio of $500,000

EEC 2304 – Calculate the monthly savings required to build a portfolio of $500,000

Based on the number of years until your retirement, calculate the monthly savings required to build a portfolio of $500,000. Assume you are starting with zero savings, can earn 6 percent a year, and that you start saving on the first of each month. What if you could earn 9 percent a year but wanted to save $750,000 – what would you need to deposit into savings monthly? My age is 39

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