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11 April, 12:55

How much would you need to invest on your 16th birthday at 3% per year, compounded quarterly, to have $750,000 by your 60th birthday? (TVM Solver)

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  1. 11 April, 15:50
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    A=p (1+r/k) ^kn

    A future value 750000

    P present value?

    R interest rate 0.03

    K compounded quarterly 4

    N time 60-16=44 years

    P=A / (1+r/k) ^kn

    P=750,000: (1+0.03:4) ^ (4*44)

    p=201,340.72
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