Earl Ezekiel wants to retire in San Diego when he is 65 years old. Earl is now 47. He believes he will need $520,000 to retire comfortably. To date, Earl has set aside no retirement money. Assume Earl gets 6% interest compounded semiannually.
How much must Earl invest today to meet his $520,000 goal?

Question

04-06-2024
Business

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Earl Ezekiel wants to retire in San Diego when he is 65 years old. Earl is now 47. He believes he will need $520,000 to retire comfortably. To date, Earl has set aside no retirement money. Assume Earl gets 6% interest compounded semiannually.
How much must Earl invest today to meet his $520,000 goal?

Sagot :

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