To achieve an account balance of $1 million 34 years from today, how much needs...

50.1K

Verified Solution

Question

Finance

To achieve an account balance of $1 million 34 years from today, how much needs to be deposited today if the interest rate is 10%?

Enter your answer as a number rounded to 2 decimal places. An answer of 23.456 would be entered as 23.46.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students