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    earnit's Avatar
    earnit Posts: 1, Reputation: 1
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    #1

    May 18, 2007, 05:06 AM
    Annual interest
    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's Avatar
    Dr D Posts: 698, Reputation: 127
    Senior Member
    		  
    #2

    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 beginning of the year. It has been a while ince I have used this function.
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