That's going to depend on all of the following:
-- what interest rate you can find
-- how often the interest on the investment is compounded
-- how you take your 40,000 annually ... how much and how often during the year.
You haven't included any of that information in the question, so no answer is possible.
You need to invest 42027.98
The total interest would be 73606.07 dollars, approx.
7,398,000
6947.91 will be sufficient.
6.1% = 0.061(1.061)20 = 3.268193Investment = 600,000 / 3.268193 = $ 183,587.70
You need to invest 42027.98
The total interest would be 73606.07 dollars, approx.
The future value of a 500 investment with a 5 annual interest rate compounded annually after 5 years is approximately 638.14.
1 million pounds, go buy a bentley
1050*5/100
Still 40000 pounds but it would buy a lot less
7,398,000
6947.91 will be sufficient.
40,000 Euros = $51,970.97
about the same. but around 70000 pounds
£40000
400hundred dollars