Lux Investing

How much money do you need to invest at age 21 in an account earning 8.5% compounded monthly in order to have ?

How much money do you need to invest at age 21 in an account earning 8.5% compounded monthly in order to have $770000 at age 46?

Public Comments

1. A=P (1+ r/m)^mt 770000=P (1+.085/12)^(12)(25) 770000=8.310412203P P= $92, 655