Make one lump sum investment

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Reference no: EM131171682

You are trying to decide how much to save for retirement.

Assume you plan to save$ 4 500 per year with the first investment made 1 year from now.

You think you can earn11.5% per year on your investments and you plan to retire in 38 years immediately after making your last $ 4500 investment.

If, instead of investing $4500 per year, you wanted to make one lump sum investment today for your retirement, how much would that lump sum need to? be?You will need to make one lump sum investment today.

Reference no: EM131171682

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