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Is there a formula for this Plan?
little_ste
Posts: 3 Newbie
Hello,
Was asked this question this morning by my brother ..
How much do I need to invest per annum to receive a lump sum of £12458.00 in 11 years @ 5% interest rates?
What is the formula for working this out?
thanks in advance
steve
Was asked this question this morning by my brother ..
How much do I need to invest per annum to receive a lump sum of £12458.00 in 11 years @ 5% interest rates?
What is the formula for working this out?
thanks in advance
steve
0
Comments
-
About £72 per month assuming no tax on interest and annual compounding is applied.0
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