Question

Jesse wants to have $ 500,000 in his IRA when he retires in 40 years. He is able to invest in an IRA that will yield 2 % compounded monthly. How much will Jesse need to invest into his IRA each month to reach his goal?

P=B(r/n)/(1+r/n)^nt-1
A. $ 374.69
B. $ 436.72
C. $ 556.69
D. $ 680.79

Answer 1

B. $436,72

Explanation:

500,000 = R * ((1 - (1 + 0.02/12)^(-12*40)) / (0.02/12))

Resolviendo para R, obtenemos:

R = 436.72

Por lo tanto, Jesse necesitará invertir $436.72 en su IRA cada mes para alcanzar su meta de $500,000 en 40 años, suponiendo una tasa de interés del 2% compuesto mensualmente. La respuesta correcta es la opción B.