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How much to invest today to meet given amount goal

Ray Long wants to retire in Arizona when he is 70 years of age. Ray is now 50. He believes he will need $130,000 to retire comfortably. To date, Ray has set aside no retirement money. Assume Ray gets 14% interest compounded semiannually. How much must Ray invest today to meet his $130,000 goal?

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Solution Preview :

Prepared by a verified Expert

Mathematics: How much to invest today to meet given amount goal

Reference No:- TGS0689535

Have a Question? (oR Write a Review)

Recent Questions Asked Mathematics

Q : Confidence interval for the average number of days absent

Q : How much insurance company pay-find share of responsibility

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Q : Confidence interval estimate for the average daily sale

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Solution Preview :

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Mathematics: How much to invest today to meet given amount goal

Reference No:- TGS0689535

Recent Questions Asked Mathematics

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