SOLUTION: A client needs $100,000 in 10 years. How much must they invest today at 8% compounded monthly to reach their goal?
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Question 992981: A client needs $100,000 in 10 years. How much must they invest today at 8% compounded monthly to reach their goal?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A client needs $100,000 in 10 years. How much must they invest today at 8% compounded monthly to reach their goal?
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Solve for "P"::
100,000 = P(1+(0.08/12))^(12*10)
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Cheers,
Stan H.
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