In: Statistics and Probability
How much should you invest each month in order to have $800,000
if your rate of return is 3.1% compounded monthly and you want to
achieve your goal in 40 years?
a) $
How much interest will you earn?
b) $
How much should you invest each month in order to have $800,000 if
you want to achieve your goal in 20 years?
c) $
If you deposit the amount you need to achieve your goal in 20
years, how much will your savings be worth after 10 years?
$