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You have decided that you want to be a millionaire when you retire in 45 years.
If you can earn an annual return of 11.04 percent, how much do you have to invest today?
Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.
What if you can earn an annual return of 5.52 percent?
Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.
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| | | a. Amount to invest | | | b. Amount to invest | | |
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