SOLUTION: How much would a young married couple have to invest now at 8%annual interest to get $100,000.00 at retirement in 40 years.What is the equation for this.?The answer is about 4605.

Question 107671: How much would a young married couple have to invest now at 8%annual interest to get $100,000.00 at retirement in 40 years.What is the equation for this.?The answer is about 4605.
Answer by scott8148(6628) (Show Source): You can put this solution on YOUR website!
the general equation is a=p(1+r)^n, where a is the amount, p is the principle (starting amount)
... r is the interest rate (per compounding) and n is the number of compoundings

let x=principle ... 100,000=x(1.08)^40
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