Business, 03.03.2020 03:19 agarcia24101993

ASSUME that in 25 years you will need $500,000 for your retirement (i. e. retirement is actually 25 years away, and you want to have saved $500,000). How much money would you have to put into a bank today to accumulate this if your money will earn 8% per year (assume annual compounding)?

a.73,009

b.166,365

c.211, 573

d.676,001

e. insufficient information to compute

Answers: 3

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ASSUME that in 25 years you will need $500,000 for your retirement (i. e. retirement is actually 25...

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