Computing investment to completely fund annuity in 50 years

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Reference no: EM1310313

1) You want to leave the endowment for your heirs which goes into effect 50 years from today. You do not want to be forgotten after you pass so you want to leave the endowment which will pay for grand soirée yearly and forever. Compute the amount that you would like spent yearly to fund this grand party? How much money do you have to leave to your heirs 50 years from now suppose that will compound at 6% interest? Suppose that you haven’t invested anything today, how much would you have to invest yearly to completely fund annuity in 50 years, again suppose a 6% monthly compounding rate?

Reference no: EM1310313

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