Business Finance
Time Value of Money (TVM)

Question Description

Provide a story problem that can be solved using one or more TVM calculations.

Final Answer

John is 35 years of age. John wants to create a fund which will be $1,000,000 at the end of 30 years. He plans  to make equal annual payments for 30 years the payment is due after one year. The rate of interest is 7%. What must be the annual payments? 

madhavant (2757)
University of Maryland

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