DEVRY FIN 515 Entire Course NEW DEVRY FIN 515 Week 2 Quiz | Page 2

Question 3( TCO B) You want to have $ 1,000,000 in 30 years. You already have $ 50,000. You think you can get a 7 % annual return on your money. How much per year will you have to save to get to $ 1,000,000? Ignore taxes. Show your work. If you use Excel, show the formula with the parameters, and the answer. If you use a formula, provide the standard formula, the formula with terms substituted, and the answer. If you use a calculator, show the inputs and the answer.