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23 September, 06:17

Lonnie is considering doing some long term investing with money that she inherited. She would like to have $50,000 at the end of 30 years. Approximately how much money would Lonnie need to put into an account earning 6% interest compounded annually in order to meet her goal?

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  1. 23 September, 09:43
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    In order for Lonnie to accumulate 50,000 wealth at the end of 30 years that pays 6% interest, he needs to invest 8.705.51 or 8,706 today. Thhis is computed using the formula of present value of money that states that (1+interest) ^-n multiplied to Future Value of money.
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