Question

Janet and Russell are 45. They have $300,000 already saved. They are able to add $2,000 per month to their nest egg. They think their investment strategy will provide 8% annualized returns. They plan to retire when the nest egg hits $1,000,000. How long will that take? (Assume their investments compound monthly on the last day of the month.)

Answer 1

SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE

SOLVED WITH BA II PLUS CALCULATOR