You want to have $$2,920,000$ at the end of $22$ years. You have $$10,000$ to invest now, and you will receive $$80,000$ at the end of $9$ years. In addition, you plan to invest an equal amount at the end of every year over the next $22$ years to reach your goal. If the annual rate of interest is $9\mathrm{.}90\%,$ how much do you have to invest annually?

Question $11$ Answer

a$.$

$$40,145$

b$.$

$$41,421$

c$.$

$$290,578$

d$.$

$$36,418$

e$.$

$$31,235$