You are a financial analyst and you have a client that wants to retire in 30 years with $1 Million. Your bank's interest rate is 6.7%. Design a financial plan for them. How much would be their initial deposit? Would you use simple or compound interest? Would you compound the interest annually or monthly? What would be your client's monthly contributions?© BrainMass Inc. brainmass.com December 15, 2022, 8:07 pm ad1c9bdddf
We shall have to fomulate a financial plan such that the future value of the annunity, after a period of 30 years = $1 Million = $1000000
We shall use ...
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