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Today is john 20th he wants to save for retirement. Given the economy he plans to work till his 70th birthday effective annual rate is

Today is john 20th he wants to save for retirement. Given the economy he plans to work till his 70th birthday effective annual rate is 10%

He wants to make a signal deposit of 10000 today and withdraw lump sun on his 70th birthday. Alternatively he can make a larger signal depostie on his 30th birthday and get the same lunp-sun amount on his 70th birthday. How much will be required amount deposited on his 30th birthday

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