You wish to retire in 30 years and determine that you will need $1,000,000 to fund your retirement. If you can invest with a return of 8% you will need to invest each year to reach your goal.

you will need to invest $8827.43 each year  

Explanation:

given data

time t = 30 year

future value = $1,000,000

return r = 8%

solution

we apply here future value of annuity that is express as

future value of annuity = annuity ×    ..................1

put here value

$1,000,000 = annuity ×  

solve it we get

annuity = $8827.43

so you will need to invest $8827.43 each year  

hi : ) i found this so i hope this !

"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"

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