How much should you invest each month in order to have
$800,000
if your rate of return is
6.3%
compounded monthly and you want to achieve your goal in 40 years?
$
How much interest will you earn? 5 How much should you invest each month in order to have
$800,000
if you want to achieve your goal in 20 years? 5 If you deposit the amount you need to achieve your goal in 20 years, how much will your savings be worth after 10 years? Question 5 You would like to have
$550,000
when you retire in 25 years. How much should you invest each quarter if you can earn a rate of
6.7%
compounded quarterly? a) How much should you deposit each quarter? 5 b) How much total money will you put into the account? 5
◻
c) How much total interest will you earn?
$