+4624 How much money should I invest at an annually compounded interest rate of 5% so that I have $500,000 in ten years? Express your answer as a dollar value rounded to the nearest cent.
+37165 FV=500000
PV= ?
i=.05
n=10
FV=PV(1+i)^n
500,000 = PV (1.05)^10 PV= $306,956.63
