Contributing $1,500 to his retirement fund at the end of each year beginning at age 18 through age 50, with an average annual return of 12%, how much does Juan have in his retirement account at this time to use toward a possible early retirement?

Answer 1

i = .12
n = 50-18
= 32

amount = 1500( 1.12^32 - 1)/.01
= $457,271.58

where can you get 12% these days?