Tuesday

January 27, 2015

January 27, 2015

Posted by **granann** on Monday, November 4, 2013 at 12:47am.

- Finance -
**Reiny**, Monday, November 4, 2013 at 8:50am450000=40000 + 40000(1 - 1.065^-n)/.065

I am using

PV = Paym(1 - (1+i)^-n)/n

but ....

that formula assumes that payments are made at the end of the period, which explains the single 40,000

.66625 = 1 - 1.065^-n

1.065^-n = .33375

log both sides

-n(log 1.065) = log .33375

-n = -17.425

n = appr 17.4 years

(not many years of retirement with money, I have already been retired for 17 years and hope to have lots left. )

**Answer this Question**

**Related Questions**

finance300 - 3) Your uncle has $280,000 invested at 7.5%, and he now wants to ...

Math: Finance - Need help solving these finance questions? PV = C/r PV= C/r-g P...

finance - Mrs. Kay who is 24 years old plans to retire at the age of 60. Mrs. ...

finance - You wish to retire in 12 years and currently have $50,000 in a savings...

Finance - You wish to retire in 12 years and currently have $50,000 in a savings...

Finance - You are now 30 years old. You plan to retire in 30 years, and expect ...

Finance - Nelson Collins decided to retire to Canada in 10 years. What amount ...

math - interest rates/annuity - Plan to save $5000 per year for retirement with ...

Finance - A company requires the amount of $1,000,000 in 25 years to retire a ...

math - Yumi's grandparents presented her with a gift of $11,000 when she was 8 ...