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Ch$11$ Financial Planning Exercise $1$

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Chapter $11$

Financial Planning Exercise $1$

Calculate amount to invest to meet objectives can make about $10$ percent on her money, use Worksheet $11\mathrm{.}1$ to answer the following questions.

a$.$ How much would Phoebe have to invest today, in one lump sum, to end up with $$40,000$ in ten years? Round the answer to two decimal places. $ $ places.

$s$

d$.$ Given that Phoebe has an idea of how much she needs to save, briefly explain how she could use an investment plan to help reach her objective.