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Use excel and please show both formulas and numbers. Answer this: Now if I were investing my...

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Finance

Use excel and please show bothformulas and numbers.

Answer this: Now if I were investing my $1200 ayear at 12% with no children and I win the lottery at year 30 andwin $1,000,000 cash, how much money can I blow today (at year 30)and still have the $2,000,000 when I retire at year 40.

not sure but it might be a continuation of - IfI want to invest $1200 a year for 20 years and then stop investingfor 10 years, to pay for my slacker child to get a doctorate, howmuch will I need to invest a year in my final 10 years of work toget my $2,000,000 to make me really happy at 12% interest?

Answer & Explanation Solved by verified expert
4.0 Ratings (831 Votes)
Part 1Here nper period10 rate12 PMT1200 and FVfuture Value2000000So need to invest additional    See Answer
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