Bernie Long wants to retire to California when she is 60 years of age. Bernie is now 40. She believes that she will need $900,000 to retire comfortably. To date, Bernie has set aside no retirement money. If Bernie gets 8% compounded semiannually, how much must Bernie invest today to meet her $900,000 goal? (Round your answer to the nearest cent.)

Bernie Long wants to retire to California when she is 60 years of age. Bernie is now 40. She believes that she will need $900,000 to retire comfortably. To date, Bernie has set aside no retirement money. If Bernie gets 8% compounded semiannually, how much must Bernie invest today to meet her $900,000 goal? (Round your answer to the nearest cent.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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