I am 20 years old, which means I have 50 years until I'm 70. To find how

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I am 20 years old, which means I have 50 years until I'm 70. To find how much I need to invest each year to reach $500,000 by age 70, I need to use the future value of an annuity formula. Future Value of Annuity= Amount of cash inflow X Annuity FV Factor for i=10%, n=50 Amount of cash inflow= Future Value of Annuity/Annuity FV Factor Future Value of Annuity=500,000 Annuity FV Factor=1,164 Amount of cash inflow= 500,000/1,164 Amount of cash inflow= $429.55 How respond him

Posted Date: May 18, 2024 10:18 AM

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