Ch$02$ Financial Planning Exercise $7$

Chapter $2$

Financial Planning Exercise $7$

Funding a retirement goal

Austin Miller wishes to have $$400,000$ in a retirement fund $20$ years from now. He can create the retirement fund by making a single lump$-$sum deposit today. Use next table to sollowing problems.

three decimal places.

Calculate your answer based on the PVA$-$factor.

$$43917\mathrm{.}44$

Calculate your answer based on the financial calculator.

$

places.

Calculate your answer based on the PVA$-$factor.

$

$14480$

Calculate your answer based on the financial calculator.

$

places. Round your answer to the nearest cent. If an amount is zero, enter $"0".$

$