Multiple Choice
You just won the lottery and after taxes you have $32,000. You want to have $1,000,000 by the time you are 65, which is 45 years from now. Assuming that you can earn 9 percent each on your money, how much (in dollars) of the $32,000 must you invest today?
A) $17,891.62
B) $18,524.91
C) $20,692.24
D) $22,943.28
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q3: A $2 million deposit earns 7 percent
Q4: Which of the following would you prefer?<br>A)$500
Q5: You borrow $3,500 and will pay back
Q34: Assume you borrow $100 from a payday
Q37: You invested $5,000 in the stock market
Q55: What is the future value of $2,000
Q66: How are future values affected by changes
Q124: How long will it take $3,000 to
Q139: How long will it take for the
Q142: What is the future value of $2,500