using excel formula pmt how to calculate how to be a millionaire?
okay the actual question you plan to retire in 40 years after college. how much $ will you save each month to be a millionaire at the interest rate of 4% when you retire. Starting with $0. i could really really really use some help the assignment is due tomorrow :(
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- =PMT(0.04/12,480,0,-1000000)
- =-PMT(.04/12,40*12,0,1000000)
- N = 40 yrs x 12, or 480 R = 4% / 12 = .33% FV = 1,000,000 Compute Annuity pymt - 846.05 per month
