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Targeted retirement savings amount

Problem: Suppose you want retire when you have $1,000,000. If the interest rates paid by banks on individual retirement accounts (IRAs) rise from 4 percent to 8 percent, what will happen to the time it takes to reach your targeted retirement savings amount?

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## Q : Discount the loan at the effective interest rate

According to the FASB ASC, is it correct to discount the loan at the effective interest rate? (This is not troubled debt restructuring.)