SOLUTION: You begin working at age 23, and your employer deposits $300 per month into a retirement account that pays an APR of 6% compounded monthly. You expect to retire at age 65.
What wi
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-> SOLUTION: You begin working at age 23, and your employer deposits $300 per month into a retirement account that pays an APR of 6% compounded monthly. You expect to retire at age 65.
What wi
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Question 1187058: You begin working at age 23, and your employer deposits $300 per month into a retirement account that pays an APR of 6% compounded monthly. You expect to retire at age 65.
What will be the size of your nest egg at age 65?
Using this online calculator:
https://www.bankrate.com/calculators/savings/compound-savings-calculator-tool.aspx
The employer portion will grow to $684,454.
