At 10% per year interest, how much does he have to invest each year (starting in year 1) to reach the $1.6 million goal? (Enter your answer in dollars and not in millions of dollars.) Xavier has to invest $ each year.
At 10% per year interest, how much does he have to invest each year (starting in year 1) to reach the $1.6 million goal? (Enter your answer in dollars and not in millions of dollars.) Xavier has to invest $ each year.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Xavier is an engineer who believes in "save now and play later." He wants to retire from full employment in 18 years with $1.6 million. At 10% per year interest, how much does he have to invest each year (starting in year 1) to reach the $1.6 million goal? (Enter your answer in dollars and not in millions of dollars.)
Xavier has to invest $ each year.
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