If you'd like to have $5,000,000 at retirement in 45 years and you expect to earn 10% annually, which is around the average return over the past 50 years, what lump sum would you have to invest today?

If you'd like to have $5,000,000 at retirement in 45 years and you expect to earn 10% annually, which is around the average return over the past 50 years, what lump sum would you have to invest today?

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 6PROB

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(Power of Compounding) If you'd like to have $5,000,000 at retirement in 45
years and you expect to earn 10% annually, which is around the average
return over the past 50 years, what lump sum would you have to invest today?
(Compound interest) To what amount will the following investments

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