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A man plan to retire in 20 years and expect to need 600000 how much does he must invest today at 6 point 1 percent compounded annually to accomplish his goal?
Updated: 10/26/2022
Wiki User
∙ 13y agoBest Answer
6.1% = 0.061
(1.061)20 = 3.268193
Investment = 600,000 / 3.268193 = $ 183,587.70
Wiki User
∙ 13y agoThis answer is:
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