9514 1404 393
Answer:
$737,289
Step-by-step explanation:
The future value of an investment P invested at rate r per year compounded monthly for t years is ...
FV = P(1 +r/12)^(12·t)
We want to find P for the given future value, so we can solve for that:
P = FV/(1 +r/12)^(12·t) = FV(1 +r/12)^(-12·t)
P = $2,000,000(1 +.05/12)^(-240) = $737,289
Mr. Halpayne needs a present value of $737,289 to support his retirement.
Answer: There are more answers to this question i forgot the name of these but Im pretty sure the answers are (-2,-4) , (1, 5) , (-5,5) i hope those are correct.
Step-by-step explanation:
Answer:
Explanation for what ion how to explain that
