Question

Person who has 40 years at the moment, wants to invest in retirement fond some sum of money, so he would, starting from his 65th year, in the next 13 years, enjoy retire of 1000euros. Interest rate is constant through time and it's 11%. How much money he should invest monthly? Person who has 40 years at the moment, wants to invest in retirement fond some sum of money, so he would, starting from his 65th year, in the next 13 years, enjoy retire of 1000euros. Interest rate is constant through time and it's 11%. How much money he should invest monthly? @Mathematics

Answer 1

The math in the question regarding age and when payments should begin seems off - since he won't be 65 in 13 years. 2.88 euros assumes that money deposited at the beginning of each month for 13 years. If you want to go 25 years out, then you'll need to extend the table from 155 (13*12-1) to 299 (25*12-1). -1 is the adjustment since the table starts with 0. (You can start at 1 if that is easier to understand!)

Answer 2

thank you veru much! i'll analyze this :) can i do anything for you? since i'm quite unfamiliar with concept of this website, feel free to tell me :)