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1. Joe Smith has asked your financial advice. He would like to have $2,500,000 in...

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Finance

1. Joe Smith has asked your financial advice. He would like to have $2,500,000 in his investment account 25 years from now. He expects a stable 6% return and has $500,000 now.

How much does he need to add to his account annually to achieve his goal?

2. Joe Smith has asked your financial advice. He would like to have $2,500,000 in his investment account 25 years from now. He expects a stable 6% return and has $500,000 now.

What would he need to add annually if his return was reduced to 5.5%?

3, Joe Smith has asked your financial advice. He would like to have $2,500,000 in his investment account 25 years from now. He expects a stable 6% return and has $500,000 now.

What would he need to add annually if his return was increased to 7%?

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