Problemdan would like to save 2000000 by the time he, Ask an Expert

Finance

Problem:

Dan would like to save $2,000,000 by the time he retires in 40 years and believes he can earn an annual return of 8%.

Question: How much does he need to invest today to achieve his goal? Please provide step by step solution and show all work.

A. $136,000

B. $92,000

C. $134,000

D. $625,000

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91145807

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