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April 25, 2015

Homework Help: personal finance

Posted by susie on Wednesday, March 17, 2010 at 6:39pm.

if you wanted to save $ 50,000 to have it available in 20years provided the investment would return an APR of 12% compounded monthly.
a. how much would you need to have at the beggining (lump sum) in order to achieve the mark of $50,000.
b. how much would you have to save every year for 20 years?
c. how much would you have to save for the first 10years and nothing more?

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