can someone check that this is correct please How much money would you need to have saved today if you want to reach $$1$ million in $30$ years, and inflation grows at $3\%$ per year?

Hint: $3\%$ is the interest rate. No need for CH $14$ formulas as we did not cover that chapter.

Given $$1$ million in $30$ years

grows at $3\%$

Find How much money would you need to have saved today

Solution

$\backslash$table$[[$PMT$,$rate,$FV,$N$,PV,$Answer,Formula$],[,3\%,$$$1,000,000,30,,$$$411,986\mathrm{.}76,PV=F\frac{V}{(1+i{)}^N}$