SOLUTION: How much money should a young married couple invest now at a 5% annual rate if they want to have $100,000 in the bank when they reach retirement age in 30 years? (See the present v
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Question 1141432: How much money should a young married couple invest now at a 5% annual rate if they want to have $100,000 in the bank when they reach retirement age in 30 years? (See the present value formula below. Round your answer to the nearest dollar.)
P = A(1 + i)−n
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
They should invest $23,137.74 now
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check:
error due to rounding off
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