Business, 27.02.2020 01:19 fufnun3379

Joseph Moore is 30 years and wants to retire when he is 65. So far he has saved (1) $6,060 in an IRA account in which his money is earning 8.3 percent annually and (2) $4,480 in a money market account in which he is earning 5.25 percent annually. Joseph wants to have $1 million when he retires. Starting next year, he plans to invest the same amount of money every year until he retires in a mutual fund in which he expects to earn 7.91 percent annually. How much will Joseph have to invest every year to achieve his savings goal?

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Joseph Moore is 30 years and wants to retire when he is 65. So far he has saved (1) $6,060 in an IRA...