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19 March, 14:35

How much money should timothy and tiffany deposit annually for 20 years in order to provide?

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  1. 19 March, 14:42
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    Below is to complete the question;

    How much money should Timothy and Tiffany deposit annually for 20 years in order to provide an income of $30,000 per year for the next 10 years? Assume the interest rate is a constant 4%.

    Use the annual rate formula.

    You are given Future, F=$30,000

    You are given interest, i=4% or 0.04

    You are given time, n=10 years for future equation and n=20 years for annual equation.

    Plug those numbers in the formulas your teacher gave you.
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