Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 22, 2024

You want to retire in 40 years with a savings of $500,000. If the investment rate is 5% annually how much do you need to

You want to retire in 40 years with a savings of $500,000. If the investment rate is 5% annually how much do you need to invest?

Future Value (FV) = 500,00

Rate = 0.05

Periods = 40 years

What is present value?

please show the formula....Thank you!!!

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 3

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

International Project Finance

Authors: Felix I. Lessambo

1st Edition

3030963896, 978-3030963897

More Books

Students also viewed these Finance questions

Question

★★★★★

1. Prepare a list showing all tasks and their durations. 2. Analyze the fact situation carefully to determine which tasks are concurrent and which ones are dependent on other tasks. 3. Using PERT/CPM...

Answered: 1 week ago

Question

★★★★★

Consider the ellipse (a) Find the area of the region bounded by the ellipse. (b) Find the volume of the solid generated by revolving the region about its major axis. x + = 1. 25 9

Answered: 1 week ago

Question

★★★★★

RP-4 What is the curse of knowledge, and what does it have to do with the work of human factors psychologists?

Answered: 1 week ago

Question

★★★★★

Rockport Municipal Marina is considering adding a new dock to accommodate large yachts. The dock would cost $700,000 and would generate $144,000 annually in new cash inflows. Its expected life would...

Answered: 1 week ago

Question

★★★★★

What does GAAP stand for in accounting? a ) Generally Accepted Accounting Procedures b ) Generally Applied Accounting Principles c ) Generally Accepted Auditing Principles d ) Generally Accepted...

Answered: 1 week ago

Question

★★★★★

Do you find that most of your identified procedures are manual or automatic? AQ2. What is the most common frequency identified for the audit procedures? AQ3. How does this evaluation help you...

Answered: 1 week ago

Question

★★★★★

1) Explain Figure 1. Particularly, explain what the meaning of the figure is without considering price P**. Figure 1 U.S. Subsidies Reduce African Exports P- Po Q Q Q. Q. US. farm subsidies reduce...

Answered: 1 week ago

Question

★★★★★

Marco Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 Balances on March 31 Direct materials used (in March) $ 26,000 $ 43,000 - Direct labor used (in...

Answered: 1 week ago

Question

★★★★★

5. The first two columns of the accompanying table provide a frequency distribution, using limit grouping, for the days to maturity of 40 short-term investments. The third column shows the class...

Answered: 1 week ago

Question

★★★★★

Bobby bought a house for $275,000, by putting 15% down and borrowing the rest. His note is for 30 years at 7.5% interest. If his first payment is due August 1st of the current year, how much...

Answered: 1 week ago

Question

★★★★★

The best ways to prevent injury are to learn about the health risks that can lead to an injury, understand the consequences, and practice what you would do before you ever find yourself in a risky...

Answered: 1 week ago

Question

★★★★★

How can multimedia from the Internet be incorporated in a slide presentation? Give an example. (Objective 7)

Answered: 1 week ago

Question

★★★★★

Teamwork. Work with three or four of your classmates to develop a job description for the role of business communication student. Then, prepare a performance appraisal that discusses whether you meet...

Answered: 1 week ago

Question

★★★★★

You have a large amount of numeric data to include in your report. What type of visual aid would be most appropriate? Why? (Objective 3)

Answered: 1 week ago

Previous Question Next Question