Ask Question
1 February, 16:02

How much money would you have to invest today, at an interest rate of 5% in order to reach your goal of $1,000,000 in 30 years? Assume no additional money is invested.

+2
Answers (1)
  1. 1 February, 18:27
    0
    1.000.000 = X + (1+0.05x30)

    If you invest $ 231.500 for 30 years with an yearly interest rate of 5% and you don't contribute extra money to the investment over this 30 yrs period you will have at the end $ 1.000.000 officially becoming a millionaire!
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “How much money would you have to invest today, at an interest rate of 5% in order to reach your goal of $1,000,000 in 30 years? Assume no ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers