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How much needs to be invested today if your goal is to be able to withdraw: $500 at the end of each year for the
How much needs to be invested today if your goal is to be able to withdraw: $500 at the end of each year for the next nine years beginning. The first payment will be at the end of this year. AND $2,500 ten years from today? The return on the investment is expected to be 6%.
A. $4,797 B. $3,401 C. $7,818 D. $5,901 E. $3,909
Can you solve the above not with a formula, but with an HP 10bII+ financial calculator or equivalent? For example, using the N, I/YR , PV, PMT, and FV keys to solve.
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