You would like to have $500,000 when you retire in 35 years. How much should you invest each quarter if
1 answer:
Answer:
$201,855.65136317
Step-by-step explanation:
A= $500000 P= ? R = 2.6 N = 35*4= 140
A= P(1+R/4*100)^4n
$500000 = P(1+2.6/400)^140
$500000 = P(402.6/400)^140
$500000 = P* 2.4770175946196
500000/2.4770175946196 = P
$201,855.65136317 = P
I did it using calculator for great precision.
Thank you
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