How much do you need to invest today if you will also invest $2,700 at the end of every year for 39 years, in order to have $1,000,000 at the end of 39 years? Assume your investments earn a rate of return of 6.5% compounded annually. O $23,166 O $76,744 $10,257 O$49,207 $47,800
How much do you need to invest today if you will also invest $2,700 at the end of every year for 39 years, in order to have $1,000,000 at the end of 39 years? Assume your investments earn a rate of return of 6.5% compounded annually. O $23,166 O $76,744 $10,257 O$49,207 $47,800
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 9PROB
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![How much do you need to invest today if you will also invest $2,700 at the end of
every year for 39 years, in order to have $1,000,000 at the end of 39 years? Assume
your investments earn a rate of return of 6.5% compounded annually.
O $23,166
O $76,744
O $10,257
$49,207
O $47,800](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ffea0a97c-ba2d-4873-b29b-c19d04b1a117%2F98241841-4f48-46b3-ac03-46ca344acc46%2Foli0jwf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:How much do you need to invest today if you will also invest $2,700 at the end of
every year for 39 years, in order to have $1,000,000 at the end of 39 years? Assume
your investments earn a rate of return of 6.5% compounded annually.
O $23,166
O $76,744
O $10,257
$49,207
O $47,800
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