Question

5. Equivalence - Uniform Series Compound Interest Formulas A young engineer wishes to become a millionaire by the time she is 65 years old. She believes that by careful investment she can obtain an 1 1% rate of return. She plans to add a uniform sum of money to her investment program each year, beginning on his 25th birthday and continuing through his 64th birthday How much money must the engineer set aside each year to obtain her goal? Please draw the cash flow diagram.

Answer 1

(11% alo)-0.11 in 40 Cash flo dio 62 6364 29 65 25 26 2 28 A A AS 40

A1 ク014 リ) loo o o OL - $15 48.40 t. $154840.a chyen bet mut 40you@ǐะเ% | a 25% On 6