You plan to save $600 a month for the next 30 years for retirement. What interest rate would you need to have $1,000,000 at reti
rement? Need to solve for interest rate paying into an annuity using formula
P = d(((1+r/k)^(Nk) -1)/(r/k))
P = payout amount (1,000,000)
d = monthly deposit (600)
r = interest rate (unknown)
k = number of times per year interest is compounded (assumed to be the same as the deposit frequency = 12)
N = number of years (30)
PLEASE post steps for this. This is the last question on a set of math homework and I've been able to find no useful info on how to solve this.
It depends on how many days you are going to be on your camping trip if you are going to be on the for 2 days you will need the 2 bottles but if you are going on the trip for 8 days you will need the 8 cans. so 8 will work
