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Problem THREE: You are planning to retire in 40 years with $2,800,000.00 in your retirement fund. Currently, inflation is expected to be 3.0000% and you
Problem THREE: You are planning to retire in 40 years with $2,800,000.00 in your retirement fund. Currently, inflation is expected to be 3.0000% and you expect to earn 7.0000% on your retirement fund. You are planning to make your first deposit TODAY. How much will that first deposit need to be to reach your goal of $2,800,000 in 40 years? Show all calculations on your scratch paper. Enter the $ amount of the FIRST payment on the worksheet
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