Question: Develop a two - way table for annual investment amounts of $ 5 , 0 0 0 to $ 2 0 , 0 0 0

Develop a two-way table for annual investment amounts of $5,000 to $20,000 in increments of $1,000 and for returns of 0% to 12% in increments of 1%. Using the table, what are the minimum annual investments Lindsay must contribute (in dollars) for annual rates ranging from 7% to 9% to accrue a final value of $1,200,000 after 30 years? (Round your answers up to the nearest thousand dollars.)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!