Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. use excel and please show both formulas and number

Use excel and please show both formulas and numbers. Answer this: Now if I were investing my...

90.2K

Verified Solution

Question

Finance

Use excel and please show bothformulas and numbers.

Answer this: Now if I were investing my $1200 ayear at 12% with no children and I win the lottery at year 30 andwin $1,000,000 cash, how much money can I blow today (at year 30)and still have the $2,000,000 when I retire at year 40.

not sure but it might be a continuation of - IfI want to invest $1200 a year for 20 years and then stop investingfor 10 years, to pay for my slacker child to get a doctorate, howmuch will I need to invest a year in my final 10 years of work toget my $2,000,000 to make me really happy at 12% interest?

Answer & Explanation Solved by verified expert
4.0 Ratings (831 Votes)
Part 1Here nper period10 rate12 PMT1200 and FVfuture Value2000000So need to invest additional    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

LUKE’S HOLIDAY SUPPLIES, INC. Pro Forma Statements Problem A)        1.             Income Statement                                                          Balance Sheet                              Year Ended 2018                                                              12/31/18             Sales                                               $12,520                Cash                                                    $   110             Cost of Goods Sold                            9,698                Marketable...

Accounting
Q

Descartes' Rule of signs Use Descartes' Rule positive and how of Signs to determine how many...

Basic Math
Q

1. Explain in words what a confidence interval means to someone who has never taken statistics. 2....

Basic Math
Q

What are some recommendations would you make to ensure the fidelity of data reported to outside...

Psychology
Q

Evaluate whether midlife entails a crisis in development according to each of the adult stage theories.

Psychology
Q

An individual can draw on many sources and types of power when trying to influence others....

General Management
Q

great height 8 A is a above the hole in the earth dug along its...

Physics
Q

Where is the vertical asymptote of g x 3 log x 2 5 a x...

Basic Math
Q

Let x 1 f x x a Find the following limits If an answer does...

Calculus
Q

The augmented matrix in echelon form of a system of linear equations in x and...

Algebra
Q

Merrill Corporation Balanced Scorecard Report For Quarter Ended December 31 Customer:...

Accounting
Q

Accounting