What if you could earn 9 percent a year but wanted to save, Financial Management

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What if you could earn 9 percent a year but wanted to save

Based on the number of years until your retirement, calculate the monthly savings required to build a portfolio of $500,000. Assume you are starting with zero savings, can earn 6 percent a year, and that you start saving on the first of each month. What if you could earn 9 percent a year but wanted to save $750,000 – what would you need to deposit into savings monthly?

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Financial Management: What if you could earn 9 percent a year but wanted to save

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