If I decide to invest in certificates of deposit at 6% interest, how much will i need to deposit annually to accumulate a million dollars?

You could deposit $944,000 and get a million at the end of the year.

You will have to tell me how many deposits you want to make.

As it stands there is not enough information.

BTW, "noinvestor" assumed you wanted this done in 1 year.

then it would be $943396.23 , not $944000.

943396.23(1.06) = 1000000 but
944000(1.06=1000640

Here is the whole senerio:

Naomi is 20 years old and attends southwest tennessse college. Her Business English instructor asked her to write a report detailing her plans for retirement. Naomi decided she would investigate several ways to accumulate $1 million by the time she retires. She al the rate on a so thinks she would like to retire early when she is fifty years old so she can travel around the world. She has a money market account that pays 3% interest annually. She checked the rate on a 10 year certificcate of deposit (CD) through her bank and found that it currently pays six% she also did a little reasurch and learned that the average long term return from stock markett investments is between 10% and 12%. Now she needs to calculate how much money she will need to deposit each year to accumulate $1,000,000.

Does that help? This is all the info they give me.

IF I INVESTED 100 MILLION IN 2 YEAR 4.4% CD FOR 2 YEARS HOW MUCH WOULD I MAKE.

To determine how much you will need to deposit annually to accumulate a million dollars with a 6% interest rate, you can use the Future Value of an Ordinary Annuity formula. Here's how you can calculate it step by step:

1. Determine the number of periods: Let's assume you want to accumulate a million dollars over a certain number of years. Let's call this number "n."

2. Calculate the interest rate per period: Since the interest rate is provided as 6% annually, you need to divide it by the number of periods in a year. If you want to deposit on an annual basis, then the interest rate per period remains 6%.

3. Determine the future value: The future value is the amount you want to accumulate, which in this case is a million dollars.

4. Apply the formula: The formula for the future value of an ordinary annuity is:

FV = P * [(1 + r)^n - 1] / r

FV: Future Value (desired amount)
P: Annual deposit amount
r: Interest rate per period
n: Number of periods

5. Rearrange the formula: Since you want to find the annual deposit amount (P), you need to rearrange the formula as follows:

P = FV * (r / [(1 + r)^n - 1])

6. Substitute the values: Plug in the values into the rearranged formula:

P = 1,000,000 * (0.06 / [(1 + 0.06)^n - 1])

Note: Ensure that you use the decimal form of the interest rate (6% = 0.06).

By substituting the desired values for the future value (FV) and the number of years (n), you can calculate the annual deposit amount needed to accumulate a million dollars.