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    861966's Avatar
    861966 Posts: 9, Reputation: 1
    New Member
    		  
    #1

    May 10, 2009, 05:00 AM
    Invest today
    I need $25 000 four years from today. I have money to invest in an account that pays 5.5% p.a. interest compounded daily. How much should I invest today to meet my requirements in 4 years?
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
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    #2

    May 10, 2009, 05:53 AM

    $ 1 Would become $1.2460560214 if invested @5.5% compounded daily in 4 years time.

    So you would need $ 20,063.30 invested to-day to achieve the $25,000 in four years time.
    861966's Avatar
    861966 Posts: 9, Reputation: 1
    New Member
    		  
    #3

    May 10, 2009, 06:03 AM

    Thak you very much
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