Question

Today is your 21st birthday and you just decided to start saving money so you can retire early. Thus, you are going to save $500 a month starting one month from now. You plan to retire as soon as you can accumulate $1 million. If you can earn an average of 8%on your savings, how old will you be when you retire?

Answer #1

It will take 33.39 years (401/12)

**Hence, i will be 54.39 years old** (21+33.39)

You want to retire early so you know you must start saving
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Please explain carefully step by step.
So you can retire early, you have decided to start saving $500 a
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Can you Solve it in Excel Please
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