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What amount must you invest today

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Question - Aaron plans to invest $20,000 at the end of Year 1, $44,000 at the end of Year 2, and $53,000 at the end of Year 3. You want to have the same amount of money as Aaron three years from now, but you want to make one lump sum investment today. What amount must you invest today if you both earn 9.7 percent per year, compounded annually?

You want to save an equal amount each year for the next 38 years, at which time you will retire. What amount of annual savings are needed if you desire a retirement income of $55,000 per year for 25 years and earn 7.5 percent, compounded annually?

Reference no: EM133106066

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