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.
1050*5/100
1 million pounds, go buy a bentley
Still 40000 pounds but it would buy a lot less
7,398,000
6947.91 will be sufficient.
40,000 Euros = $51,970.97
It depends on the rate of interest. Right now (early 2014), a fairly typical rate of interest on a 5 year CD would be around 2% APR. At that interest rate you'd need to invest almost $4000 in order to have $5000 in twelve years. If by "make $5000" you meant "have $5000 more than I had to start with" rather than "have $5000 total", you'd need to invest $18640 today for your interest over twelve years to amount to $5000.
about the same. but around 70000 pounds
400hundred dollars