Heather is planning to retire in ten years. She will then need an income of $1,500...
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Heather is planning to retire in ten years. She will then need an income of $1,500 at the end of every month for the subsequent 25 years. She is going to make one investment today to provide all of the money she will eventually collect. Her investments will earn 12% compounded monthly. How much money will she have to invest today in order to have an investment fund in ten years? Heather is planning to retire in ten years. She will then need an income of $1,500 at the end of every month for the subsequent 25 years. She is going to make one investment today to provide all of the money she will eventually collect. Her investments will earn 12% compounded monthly. How much money will she have to invest today in order to have an investment fund in ten years?
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Answer To calculate the amount Heather needs to invest today we can use the future value of an ordin... View the full answer
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