Question
You see Warren Buffett as your idol. He is currently 90 years old and has a total wealth of $78.5 billion.You want to have $78.5
You see Warren Buffett as your idol. He is currently 90 years old and has a total wealth of $78.5 billion.You want to have $78.5 billion in investments when you are 90... and for the sake of this question, let's assume that you're currently exactly 30 years old, or exactly 60 years younger than Buffett.
To achieve his level of wealth, you will start saving into an investment account each quarter.You will start next quarter, growing your quarterly CFs by 36.7% APR, compounded semi-annually.The quarterly savings will go into an investment fund that will earn 24.2% APR, compounded annually.You'll also only contribute quarterly for the next 40 years; the investment account will just earn returns but not receive contributions over the last 20 years.
What would be your first quarterly contribution, 3 months from now, that would allow to you exactly meet your goal for reaching $78.5 billion in exactly 60 years?Round your answer to the nearest penny
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