can someone help me with this question. I keep getting a higer number.

Anthony, rerun the calculation for how much you will have to save per month to make 2m in 30 years. You will see, it is less than the $1,845.25. When you adjust make sure you divide the interest into the periods in a year (by 12). How much should you save per month to have 2m in 30 years? Hi class The calculation we would use is this case would be, (1.05435 - 1)/0.05 = 90.32 2,000,000/90.32= $22,143 (Yearly) Like myself, I don't think I could save $22,143 a year to do this every year on my birthday. I would consider doing it as a monthly contribution would be easier as $22,143/12= $1.845.25 (monthly). Preparing for the future is essential. Time Value Money (TVM) is the