You plan to retire after working for 45 years. You estimate you need 1 million to retire and live comfortably. Assume time zero is today and you will retire at the end of 45 years. Other opportunities exist to invest available capital elsewhere and earn a nominal 12% interest rate each year compounded annually. 

What amount would you need to invest today (time zero) to fully fund your retirement of $ 1,000,000 at the end of year 45? 

What amount would you need to invest each year, including today (Year 0 through 45), to fully fund your retirement goal?

Answer rating: 100% (QA)

SOLUTION To determine the amount you would need to invest today time zero to fully fund your retirement of 1000000 at the end of year 45 you can use the concept of present value Present value calculat... View the full answer