In: Finance
FV = retirement goal = $4,000,000
n = 40 years
r = expected return = 11.4%
Amount to be invested today = FV / (1+r)^n
= $4,000,000 / (1+11.4%)^40
= $4,000,000 / 75.0598399
= $53,290.8144
Therefore, amount requied to invest today to reach the retirement goal is $53,290.81