How much will he have to invest today to reach goal

Assignment Help Mathematics

Reference no: EM13200659

Jim Smith believes in 30 years he will need $80,000 to buy a retirement cottage. Assuming he gets an interest rate of 9% compounded annually, how much will he have to invest today to reach his retirement goal?

Reference no: EM13200659

Questions Cloud

The unique mandate of personality psychologists : The unique mandate of personality psychologists is to attempt

What overall dimensions will minimize the amount : You are designing a rectangular poster to contain 162 in2 of printing with a 4 inch margin at the top and bottom and a 2 inch margin at each side. What overall dimensions will minimize the amount of paper used?

State the shape of the cable that supports the roadway : What is the shape of the cable that supports the roadway of a suspension bridge? Our model is based on the following simplifying instructions

How would adjustments affect the slope of aggregate supply : In the short run, prices may rise faster than costs. This chapter discusses why this might happen. Suppose that labor and management agree to adjust wages continuously for any changes in the price level.

How much will he have to invest today to reach goal : Jim Smith believes in 30 years he will need $80,000 to buy a retirement cottage. Assuming he gets an interest rate of 9% compounded annually, how much will he have to invest today to reach his retirement goal?

Explaining behavior is easy-when we lack something : Your psychology professor tells you, "Explaining behavior is easy! When we lack something, we are motivated to get it." Which approach to motivation does your professor subscribe to?

Explain the concept of incremental cash flow analysis : Explain the concept of incremental cash flow analysis and its purpose and explain the difference between a sunk cost and an opportunity cost and give an example of each.

The type of the wireless internet service : Wireless high speed internet is provided for free in the airport of the city of communityville. At first, only a few people use the service. What type a good is this and why.

Where is the economy operating relative to potential gdp : What is the relationship between potential output and the natural rate of unemployment If the economy currently has a frictional unemployment rate of 2 percent, structural unemployment of 2 percent, seasonal unemployment of 0.5 percent

User Account

All Pages