Assume your goal in life is to retire with $ 3 comma 200 comma 000. How much would you need to save at the end of each year if interest rates average 9% and you have a 10minusyear work life? (Round the final answer to the nearest whole dollar.)

$291,200

Explanation:

Amount intended to retire with = $3,200,000

Average interest amount if average interest rate for 10years of work is 9% since I have 10years of work life = 9% of $3,200,000

= $288,000

Total amount generated after 10years without interest = initial amount intended - interest

= $3,200,000-$288,000

= $2,912,000

Amount needed to save at the end of each year will be;

Total amount generated after 10years without interest/total number of years

= $2,912,000/10

= $291,200

the answer is d

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forbearance of student loan payments. under forbearance, your loan payments are postponed (or reduced) but interest continues to accrue during the period of forbearance. if you don't pay the interest during that period, the interest may be “capitalized,” which means it is added to your principal balance.