Kaelin believes that in 30 years he will need $80,000 to buy a retirement cottage. Assuming he gets an interest rate of 9% compound annually, how much will he have to invest today to reach his retirement goal? retirement goal - $

Kaelin believes that in 30 years he will need $80,000 to buy a retirement cottage. Assuming he gets an interest rate of 9% compound annually, how much will he have to invest today to reach his retirement goal? retirement goal - $

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 23P

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