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.
Algebra ->
Finance
-> 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.
Log On
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
