a) You want to retire with $2,500,000 in 30 years. You feel investment rates over the...

 

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a) You want to retire with $2,500,000 in 30 years. You feel investment rates over the 30 years will be 7%. What annual payment will you need to invest each year to meet your target? (4 marks) b) You currently have $1,000,000 and want to invest it so that it will be $3,000,000 in the future. Assuming an investment rate of 8%, how many years will it take to accomplish your goals (6 marks). Note you can approximate your answer. Please show the formulas that you are using and calculations a) You want to retire with $2,500,000 in 30 years. You feel investment rates over the 30 years will be 7%. What annual payment will you need to invest each year to meet your target? (4 marks) b) You currently have $1,000,000 and want to invest it so that it will be $3,000,000 in the future. Assuming an investment rate of 8%, how many years will it take to accomplish your goals (6 marks). Note you can approximate your answer. Please show the formulas that you are using and calculations

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a To calculate the annual payment needed to reach a retirement goal of 2500000 in 30 years with an a... View the full answer