You are planning to retire in 15 years with $1,000,000. You can earn 13% compounded monthly....
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You are planning to retire in 15 years with $1,000,000. You can earn 13% compounded monthly. How much do you need to invest today? (Note: Answers are rounded.)
$193,500
$211,260
$182,560
$143,770
$157,820
$166,780
Homework Answers
The amount needed to be invested today is calculated using the PV function:-
=PV(rate,nper,pmt,fv)
=PV(13%/12,15*12,,1000000)
=143770
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