How much money do you need to invest every year for 20 years
Question # 00771366
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Updated on: 07/23/2020 02:30 PM Due on: 07/23/2020
How much money do you need to invest every year for 20 years at 8% interest in order to have $500,000? In other words, what is the present value of a compounding interest.
And
Would you rather have a savings account that pays 5% interest compounded semi-annually or one that pays 5% interest compounded daily? Explain.
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Solution: How much money do you need to invest every year for 20 years