Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You have $80,000 to invest today. You hope to have $2,000,000 in 30 years. If you do not plan on making any additional investments, what

  1. You have $80,000 to invest today. You hope to have $2,000,000 in 30 years. If you do not plan on making any additional investments, what annual rate of return will you have to achieve on your investment to reach your goal?

please work out calculations, with the formula used included

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Finance

Authors: Scott Besley, Eugene F. Brigham

3rd Edition

0324232624, 9780324232622

More Books

Students also viewed these Finance questions