Question: Minh wants to take the next six years off work

Minh wants to take the next six years off work to travel around the world. She estimates her annual cash needs at $35,000 (if she needs more, she’ll work odd jobs). Minh believes she can invest her savings at 8% until she depletes her funds.
Requirements
1. How much money does Minh need now to fund her travels?
2. After speaking with a few banks, Minh learns she’ll be able to invest her funds at 10%. How much does she need now to fund her travels?

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  • CreatedApril 30, 2015
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