Problem
You are 20 years old, and you would like to have $1,000,000 in your retirement savings account when you are 60 years old. You need to start saving for retirement right away because of the time value of money. How much money should you save annually if you can expect 7% interest on your retirement account?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.