How much would you have to invest now in one lump sum


In preparing to start your own business in 6 years, you planto invest 10% of your salary each month in an account with a fixedrate of return of 5.3%. You currently make $3000 per month andexpect your income to increase by $500 per year.

A) If you start investing now, to what amount will youraccount grow in 6 years, assuming continuous stream.

B) how much would you have to invest now in one lump sum,instead of the continuous stream, in order to build to the same 6year future value

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: How much would you have to invest now in one lump sum
Reference No:- TGS0597368

Expected delivery within 24 Hours