# SOLUTION: If I wanted to have \$150000.00 when I retire in 10 years and I'm investing into a high yield bond that pays 7% compounded annually, what do I have to invest today to achieve my goa

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 Click here to see ALL problems on Money Word Problems Question 421106: If I wanted to have \$150000.00 when I retire in 10 years and I'm investing into a high yield bond that pays 7% compounded annually, what do I have to invest today to achieve my goal? can someone tell me the formula to solve the equation?Answer by mananth(13127)   (Show Source): You can put this solution on YOUR website!Amount = 150,000 p=? r=7 n=10 .. 150,000/ (1+0.07)^10 = Principal Principal = 76,252.39