Someone told me that he has to spend about $1,500 a month towards the cost of his car. It comprises of the following:
Loan installment: $800
Petrol: $300
Insurance and repairs: $150
ERP and parking charges: $250
If he spends $150 a month on public transport (including the occasional use of taxi) and save the remaining $1,350 a month in an investment fund to earn 5% per annum over the next 30 years, how much will be get?
Be ready for a shock.
It is $1 million dollars!
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