annual interest

earnit · #1 May 18, 2007, 05:06 AM

If I have an invest today, and I need an amount in 21 years. What interest rate must I earn?

I need 202,000 in 10 years, What do I need to invest at the end of each year @ 11% to meet my needs?

Dr D · May 18, 2007, 12:03 PM

Using my HP12C, I entered 202,000as Future Value, 11% as Interest, and 10 as the number of periods. Solving for the required payment, it spit out $12,079.89 per year. I believe that answer assumes the deposit at the begining of the year. It has been a while ince I have used this function.



At Ask Me Help Desk you can ask questions in any topic and have them answered for free by our experts. To ask questions or participate in answering them you must register for a free account. By registering you will be able to: Get free answers from experts in any of our 300+ topics. Accept money for answers that you provide. Communicate privately with other members (PM). See fewer ads. Sign Up!