Kaelin believes that in 3 0 years he will need $ 8 0 , 0 0 0

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Question:

Kaelin believes that in

30

years he will need $

80, 000

to buy a retirement cottage

.

Assuming he gets an interest rate of

9 %

compound annually, how much will he have to invest today to reach his retirement goal?

Related Book For answer-question

Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0134141084

11th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, Ali R. Hassanlou, K. Suzanne Coombs

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Posted Date: Apr 01, 2024 02:16 AM

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Kaelin believes that in 3 0 years he will need $ 8 0 , 0 0 0

Question:

Expert Answer:

Kaelin can invest 602969 today to reach your goal of 80000 in 30 years at an interest rate of 9 comp... View the full answer

Contemporary Business Mathematics with Canadian Applications

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