SOLUTION: Earl Ezekiel wants to retire in San Diego when he is 65 years old. Earl is now 49. He believes he will need $540,000 to retire comfortably. To date, Earl has set aside no retiremen
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Question 1189485: Earl Ezekiel wants to retire in San Diego when he is 65 years old. Earl is now 49. He believes he will need $540,000 to retire comfortably. To date, Earl has set aside no retirement money. Assume Earl gets 8% interest compounded semiannually.
How much must Earl invest today to meet his $540,000 goal? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest dollar amount.)
Investment?
Answer by ikleyn(52792) (Show Source): You can put this solution on YOUR website!
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Earl Ezekiel wants to retire in San Diego when he is 65 years old. Earl is now 49.
He believes he will need $540,000 to retire comfortably. To date, Earl has set aside no retirement money.
Assume Earl gets 8% interest compounded semiannually.
How much must Earl invest today to meet his $540,000 goal? (Use the Table provided.)
(Do not round intermediate calculations. Round your answer to the nearest dollar amount.)
~~~~~~~~~~~~~~~~~
Your post is strange.
From one side, it requests to use some Table.
From the other side, the Table is not provided.
I can easy solve the problem without using any Table, but then my solution will not follow your instruction.
My advise to you is to read what you post and to think about it, at least 30 seconds or 1 minute.
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