question archive You plan to retire when you have $1,000,000 in savings
You plan to retire when you have $1,000,000 in savings
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You plan to retire when you have $1,000,000 in savings. You can make a deposit of $3,000 per quarter into a retirement saving account that pays 12 percent annual interest rate compounded quarterly. How many years will you have to wait to retire?
A.37.74 years
B.34.77 years
C.31.41 years
D.29.04 years
E.27.22 years
F.24.51 years
G.22.52 years
H.20.28 years
