Setting up a retirement fund, Accounting Basics

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Setting up a retirement fund

Chad is setting up a retirement fund, and he plans on depositing $5,000 per year in an investment that will pay 7% annual interest. How long will it take him to reach his retirement goal of $69,080?

A. 13.816 years

B. 0.072 years

C. 10 years

D. 20 years

E. 5 years

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Accounting Basics: Setting up a retirement fund

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Accounting Basics: Setting up a retirement fund

Reference No:- TGS040361

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Explain the law of downward-sloping demand

Q : Overhead control account

Q : Cash-flow consequences of filing a claim

Q : Relationship of price of oil and level of real gdp in us

Q : Setting up a retirement fund

Q : Marginal revenue at company is producing level of output

Q : What would be the increase to cash

Q : Find greatest percentage of foreign-born residents

Q : Arguments supporting that cpa firm cannot be a corporation

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Setting up a retirement fund

Reference No:- TGS040361

Recent Questions Asked Accounting Basics

Q : Explain the law of downward-sloping demand

Q : Overhead control account

Q : Cash-flow consequences of filing a claim

Q : Relationship of price of oil and level of real gdp in us

Q : Setting up a retirement fund

Q : Marginal revenue at company is producing level of output

Q : What would be the increase to cash

Q : Find greatest percentage of foreign-born residents

Q : Arguments supporting that cpa firm cannot be a corporation

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