27 Nov 2015

A question about : Is there a formula for this Plan?

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 Ј12458.00 in 11 years @ 5% interest rates?

What is the formula for working this out?

thanks in advance
steve

Best answers:

  • About Ј72 per month assuming no tax on interest and annual compounding is applied.
Category: 
Debt-free Wannabe Challenges
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