Problem:
Starting at age 25, a person invests $6,000 at the end of every year for 35 years. If the person wants one million dollars at age 65, what interest rate must the investment earn?
Notes:
Person only deposits money for annually for 35 years. n=35
Last 5 years no deposits are made. n=5
Should this be solved to PW first??
i =?
A = $6,000 for n=35
F = $1,000,000