Problema Solution
if you can earn 4 percent, how much will you have to save each year if you want to retire in 35years with $1 million?
Answer provided by our tutors
let x= the amount you have to earn each year
0.04*x*35 = 1,000,000
x = $714,285.714
the amount you need to save each year is 0.04*x = 1000000/35 = $28,571.43