How much would have to invest now in one lump sum

Reference no: EM13258652

In preparing to start your own business in 6 years, you planto invest 10% of your salary each month in an account with a fixedrate of return of 5.3%. You currently make $3000 per month andexpect your income to increase by $500 per year.

A) If you start investing now, to what amount will youraccount grow in 6 years, assuming continuous stream.

B) how much would you have to invest now in one lump sum,instead of the continuous stream, in order to build to the same 6year future value

Reference no: EM13258652

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