Question
How much should you invest each month in order to have $400,000 if your rate of return is 6.5% compounded monthly and you want to
How much should you invest each month in order to have $400,000 if your rate of return is 6.5% compounded monthly and you want to achieve your goal in 40 years? Round your answer to the nearest cent. $______________ How much interest will you earn? Round your answer to the neraest cent. $_______________ How much should you invest each month in order to have $400,000 if you want to achieve your goal in 20 years? Round your answer to the nearest cent. $________________ If you deposit the amount you need to achieve your goal in 20 years, how much will your savings be worth after 10 years? Round your answer to the nearest cent. $________________
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