5-1. (Power of Compounding) If you'd like to have $5,000,000 at retirement in 45 years and you expect to earn 10 percent annually, which is around the averag" return over the past 50 years, what lump sum would you have to invest today?
5-1. (Power of Compounding) If you'd like to have $5,000,000 at retirement in 45 years and you expect to earn 10 percent annually, which is around the averag" return over the past 50 years, what lump sum would you have to invest today?
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 6PROB
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Transcribed Image Text:5-1. (Power of Compounding) If you'd like to have $5,000,000 at retirement in
45 vears and you expect to earn 10 percent annually, which is around the average
return over the past 50 years, what lump sum would you have to invest today?
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