Burton bush wants to retire in arizona when he is 80 years of age. burton, who is now 55, believes he will need $400,000 to retire comfortably. to date, he has set aside no retirement money. if he gets an interest of 6 percent compounded annually, he will have to invest today

The initial invest must be 93.199,45

Step-by-step explanation:

Topic: Compound Interest

Remember the present value and future value formulas. the one needed for this excersice is present value formula, as it follows

to calculate the n value you have to sustract the age of retirement and the actual age being

and the compound interest being 6% annually

so the calculation would be

replacing the values would make

is this a multiple choice question?

if so it's a and c

because linear equations are a lot simpler than quadratics equations, and linear equations formula is a lot easier to memorize. that's why i think they're harder.