Homework Help: finance

Posted by maria on Monday, April 19, 2010 at 6:39am.

How much would I have to put away annually to accumulate 50,000 in 8 years given an investment of 10% compounding savings?

finance - Reiny, Monday, April 19, 2010 at 6:43am
let the payment be x

50000=x(1 - (1.1)^-8)/.1

let me know if you don't get $9372.20
finance - tareq alkatheeri, Tuesday, April 20, 2010 at 4:02am
Pva= ammount[(1+i)^-1]
________ = _

I
Pva=50000[(1+0.10)8-1
____________ =
0.10

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