Business, 23.09.2019 17:20 tajonae04

Compound interest is a very powerful way to save for your retirement. saving a little and giving it time to grow is often more effective than saving a lot over a short period of time. to illustrate this, suppose your goal is to save $1 million by the age of 6060. what amount of money will be saved by socking away $11 comma 79311,793 per year starting at age 2929 with aa 66% annual interest rate. will you achieve your goal using the long-term savings plan? what amount of money will be saved by socking away $27 comma 18627,186 per year starting at age 4040 at the same interest rate? will you achieve your goal using the short-term savings plan?

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