If you wish to have Rs.1, 000,000 on the retirement at the age of 60, what will you need to invest this year if you are 40 and you earn 8%?
single investment made at age 40 ---- P
P(1.08^20 - 1)/.08= 1,000,000
solve for P
P(1.08^20 - 1)/.08= 1,000,000
solve for P