Question 448591
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Hi,
A family's plan to retire in 15 years and expect to need $500,000.
Let P represent the amount invested at 11.9% compounded annually
A= p(1+r/n) ^nt 
$500,000= P(1.119) ^15
 $500,000/(1.119^15) = P 
        $92,580.35 = P