SOLUTION: How much money should a young married couple invest now at a 6% annual rate if they want to have $100,000 in the bank when they reach retirement age in 40 years? (See the present v

Algebra ->  Equations -> SOLUTION: How much money should a young married couple invest now at a 6% annual rate if they want to have $100,000 in the bank when they reach retirement age in 40 years? (See the present v      Log On

Let X be that amount under the question.


Then your equation is


    100000 = ,   or


    100000 = .


Therefore, the answer is  


    X =  = 9722.22   dollars.