Name: ______________________________________

Profession: __________________________________

Role: _______________________________________

Salary: $_____________________________________

Investment: (50% of salary) $___________________

Years Institution Greatest APY

(annual percentage

yield)

Years to make $1,000,000

From the compound interest calculator

1 year      
3 years      
5 years      

 

Use the compound interest calculator to find the interest rate necessary to have

$1,000,000 by the time you reach age 65 ( the current retirement age). Assume

you start investing at age 18 - for the high school graduate, 22 - for the college graduate,

and 26 - for the graduate student. Round your answer to the nearest hundredth of a percent

and record this number below.

 

Interest rate needed to have $1,000,000 by the age of 65: ___________________________