Sara wants to have $ 530,000 in her savings account when she retires. How much must...

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Sara wants to have $ 530,000 in her savings account when she retires. How much must...

Sara wants to have $ 530,000 in her savings account when she retires. How much must she put in the account now, if the account pays a fixed interest rate of 9%, to ensure that she has $530,000 in 18 years time?

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Answer 1

Answer #1

Future Value Present value interest rate no.of periods Annually PV FV/(1+i)^n 530000/(1+0.09)^18 112,356.68

C7 e f x --PV(C2,C3,C4,C5, C6) в 0.09 18 ДА 1 2 RATE(i/y) 3 NPER(n) 4 PMT 5 FV 6 TYPE 7 PV Rate Per Period Total No.of period

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Answer 2

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